Quantcast

Carbondale Reporter

Thursday, April 25, 2024

Former state school employee Chapman paid in $78K to teachers' pension fund, could collect $1.63M in retirement

Shutterstock 385535740

Former state school employee Laurie Chapman, who retired in November 2016, saved $77,595 toward a pension over 23 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Chapman would collect as much as $1.63 million, according to a projection by Local Government Information Services (LGIS), which publishes Carbondale Reporter.

The projection assumes Chapman received $34,184 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Chapman will have already received $105,660 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