Former state school employee Flaherty paid in $111K to teachers' pension fund, could collect $1.88M in retirement

By Local Labs News Service

Jul 1, 2016

Former state school employee Linda Flaherty, who retired in June 2016, saved $111,090 toward a pension over 24 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Flaherty would collect as much as $1.88 million, according to a projection by Local Government Information Services (LGIS), which publishes Kane County Reporter.

The projection assumes Flaherty received $39,431 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Flaherty will have already received $121,877 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

East Aurora School District 131

!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