Quantcast

Metro East Sun

Friday, April 4, 2025

Former state school employee Lee paid in $106K to teachers' pension fund, could collect $1.51M in retirement

Shutterstock 443523112

Former state school employee Vandelena Lee, who retired in May 2017, saved $105,818 toward a pension over 25 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Lee would collect as much as $1.51 million, according to a projection by Local Government Information Services (LGIS), which publishes Metro East Sun.

The projection assumes Lee received $31,721 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Lee will have already received $132,710 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

MORE NEWS