Quantcast

Sangamon Sun

Saturday, May 4, 2024

Former state school employee Wanless paid in $175K to teachers' pension fund, could collect $3.87M in retirement

Money 02

Former state school employee Kathleen Wanless, who retired in June 2017, saved $174,993 toward a pension over 33 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Wanless would collect as much as $3.87 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Wanless received $81,395 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Wanless will have already received $251,584 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