Quantcast

Sangamon Sun

Friday, April 19, 2024

Former state school employee Sundby paid in $19K to teachers' pension fund, could collect $369K in retirement

Shutterstock 385535740

Former state school employee Carla Sundby, who retired in May 2018, saved $19,351 toward a pension over 12 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Sundby would collect as much as $369,232, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Sundby received $7,761 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Sundby will have already received $23,989 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