Quantcast

Carbondale Reporter

Sunday, November 24, 2024

Former state school employee Mattingly paid in $124K to teachers' pension fund, could collect $2.52M in retirement

Shutterstock 434242897

Former state school employee Christine Mattingly, who retired in May 2016, saved $124,155 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, Mattingly would collect as much as $2.52 million, according to a projection by Local Government Information Services (LGIS), which publishes Carbondale Reporter.

The projection assumes Mattingly received $53,067 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Mattingly will have already received $164,025 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