Quantcast

Sangamon Sun

Tuesday, November 5, 2024

Former state school employee York paid in $115K to teachers' pension fund, could collect $2.43M in retirement

Shutterstock 469426916

Former state school employee Debra York, who retired in May 2017, saved $115,081 toward a pension over 35 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, York would collect as much as $2.43 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes York received $51,165 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, York will have already received $158,146 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