Quantcast

Sangamon Sun

Friday, November 22, 2024

Former state school employee Valle paid in $131K to teachers' pension fund, could collect $2.9M in retirement

Money 05

Former state school employee Glenda Valle, who retired in May 2017, saved $130,615 toward a pension over 38 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Valle would collect as much as $2.9 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Valle received $60,985 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Valle will have already received $188,499 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

!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