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Metro East Sun

Wednesday, December 4, 2024

Former state school employee Jenkins paid in $99K to teachers' pension fund, could collect $1.58M in retirement

Money 08

Former state school employee Anthony Jenkins, who retired in October 2017, saved $98,745 toward a pension over 21 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Jenkins would collect as much as $1.58 million, according to a projection by Local Government Information Services (LGIS), which publishes Metro East Sun.

The projection assumes Jenkins received $33,300 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Jenkins will have already received $102,927 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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