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Metro East Sun

Friday, November 22, 2024

Former state school employee Leflore paid in $8K to teachers' pension fund, could collect $107K in retirement

Money 03

Former state school employee Cynthia Leflore, who retired in January 2016, saved $8,192 toward a pension over 5 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Leflore would collect as much as $107,227, according to a projection by Local Government Information Services (LGIS), which publishes Metro East Sun.

The projection assumes Leflore received $2,253 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Leflore will have already received $9,428 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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