Former state school employee Harris paid in $166K to teachers' pension fund, could collect $3.1M in retirement

By Local Labs News Service

Jul 1, 2018

Former state school employee William Harris, who retired in June 2018, saved $166,322 toward a pension over 27 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Harris would collect as much as $3.1 million, according to a projection by Local Government Information Services (LGIS), which publishes Metro East Sun.

The projection assumes Harris received $65,089 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Harris will have already received $201,184 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

Dupo Community Unit School District 196

!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