Quantcast

Kane County Reporter

Sunday, September 29, 2024

Former state school employee Carlson paid in $11K to teachers' pension fund, could collect $252K in retirement

Money272

Former state school employee Terry Carlson, who retired in May 2016, saved $10,603 toward a pension over 3 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Carlson would collect as much as $251,574, according to a projection by Local Government Information Services (LGIS), which publishes Kane County Reporter.

The projection assumes Carlson received $5,287 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Carlson will have already received $10,733 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