Former state school employee Lengyel paid in $23K to teachers' pension fund, could collect $341K in retirement

By Local Labs News Service

Jun 1, 2016

Former state school employee Elizabeth Lengyel, who retired in May 2016, saved $23,109 toward a pension over 15 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Lengyel would collect as much as $340,698, according to a projection by Local Government Information Services (LGIS), which publishes Metro East Sun.

The projection assumes Lengyel received $7,161 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Lengyel will have already received $29,959 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Granite City Community Unit School District 9

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