Former state school employee Chandler paid in $167K to teachers' pension fund, could collect $3.26M in retirement

By Local Labs News Service

Jul 1, 2018

Former state school employee Margaret Chandler, who retired in June 2018, saved $167,374 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, Chandler would collect as much as $3.26 million, according to a projection by Local Government Information Services (LGIS), which publishes Metro East Sun.

The projection assumes Chandler received $68,568 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Chandler will have already received $211,937 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

Belleville Area Spec Ed

!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