Quantcast

Kane County Reporter

Sunday, September 29, 2024

Former state school employee Riley paid in $154K to teachers' pension fund, could collect $3.21M in retirement

Shutterstock 369740408

Former state school employee Elizabeth Riley, who retired in May 2016, saved $153,508 toward a pension over 35 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Riley would collect as much as $3.21 million, according to a projection by Local Government Information Services (LGIS), which publishes Kane County Reporter.

The projection assumes Riley received $67,468 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Riley will have already received $208,537 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