Former state school employee Young paid in $18K to teachers' pension fund, could collect $250K in retirement

By Local Labs News Service

Jun 1, 2018

Former state school employee Jill Young, who retired in May 2018, saved $17,740 toward a pension over 6 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Young would collect as much as $250,296, according to a projection by Local Government Information Services (LGIS), which publishes Metro East Sun.

The projection assumes Young received $5,261 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Young will have already received $22,011 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