Quantcast

Sangamon Sun

Saturday, April 20, 2024

Former state school employee Sobol paid in $136K to teachers' pension fund, could collect $2.17M in retirement

Shutterstock 262120544

Former state school employee David Sobol, who retired in June 2017, saved $135,539 toward a pension over 26 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Sobol would collect as much as $2.17 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Sobol received $45,659 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Sobol will have already received $141,128 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.
Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.
Donate

MORE NEWS