Quantcast

South West Illinois News

Saturday, May 18, 2024

Former state school employee Bigham paid in $119K to teachers' pension fund, could collect $2.23M in retirement

Shutterstock 249974521

Former state school employee Nancy Bigham, who retired in May 2016, saved $118,862 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, Bigham would collect as much as $2.23 million, according to a projection by Local Government Information Services (LGIS), which publishes SW Illinois News.

The projection assumes Bigham received $46,789 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Bigham will have already received $144,621 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