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Carbondale Reporter

Monday, December 23, 2024

Former state school employee Rawe paid in $1K to teachers' pension fund, could collect $48K in retirement

Money 01

Former state school employee Beverley Rawe, who retired in June 2016, saved $1,020 toward a pension over 1 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Rawe would collect as much as $48,013, according to a projection by Local Government Information Services (LGIS), which publishes Carbondale Reporter.

The projection assumes Rawe received $1,009 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Rawe will have already received $2,048 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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