Quantcast

Sangamon Sun

Thursday, April 25, 2024

Former state school employee Wiggs paid in $146K to teachers' pension fund, could collect $3.13M in retirement

Shutterstock 434242897

Former state school employee Janice Wiggs, who retired in May 2018, saved $145,679 toward a pension over 31 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Wiggs would collect as much as $3.13 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Wiggs received $65,719 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Wiggs will have already received $203,132 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