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Metro East Sun

Friday, April 19, 2024

Former state school employee Winters paid in $10K to teachers' pension fund, could collect $134K in retirement

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Former state school employee Rhea Winters, who retired in February 2017, saved $9,718 toward a pension over 7 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Winters would collect as much as $134,071, according to a projection by Local Government Information Services (LGIS), which publishes Metro East Sun.

The projection assumes Winters received $2,818 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Winters will have already received $11,791 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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