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Carbondale Reporter

Sunday, November 24, 2024

Former state school employee Helton paid in $14K to teachers' pension fund, could collect $185K in retirement

Money 07

Former state school employee Gail Helton, who retired in September 2017, saved $13,552 toward a pension over 5 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Helton would collect as much as $184,773, according to a projection by Local Government Information Services (LGIS), which publishes Carbondale Reporter.

The projection assumes Helton received $3,883 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Helton will have already received $16,244 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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