Former state school employee Jessie paid in $35K to teachers' pension fund, could collect $757K in retirement

By Local Labs News Service

Jul 1, 2017

Former state school employee Valeria Jessie, who retired in June 2017, saved $34,596 toward a pension over 12 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Jessie would collect as much as $757,168, according to a projection by Local Government Information Services (LGIS), which publishes Metro East Sun.

The projection assumes Jessie received $15,915 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Jessie will have already received $49,191 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

Alton Community Unit School District 11

!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