Quantcast

Metro East Sun

Wednesday, December 4, 2024

Former state school employee Yow paid in $129K to teachers' pension fund, could collect $2.72M in retirement

Shutterstock 233512279

Former state school employee Reshay Yow, who retired in June 2017, saved $128,611 toward a pension over 32 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Yow would collect as much as $2.72 million, according to a projection by Local Government Information Services (LGIS), which publishes Metro East Sun.

The projection assumes Yow received $57,177 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Yow will have already received $176,728 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

!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

MORE NEWS