Quantcast

Carbondale Reporter

Monday, May 20, 2024

Former state school employee Clark paid in $92K to teachers' pension fund, could collect $1.76M in retirement

Money 01

Former state school employee Peggy Clark, who retired in June 2017, saved $91,858 toward a pension over 26 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Clark would collect as much as $1.76 million, according to a projection by Local Government Information Services (LGIS), which publishes Carbondale Reporter.

The projection assumes Clark received $37,097 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Clark will have already received $114,663 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

!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