Quantcast

South West Illinois News

Friday, November 22, 2024

Former state school employee Flowers paid in $53K to teachers' pension fund, could collect $831K in retirement

Shutterstock 197358977

Former state school employee Donna Flowers, who retired in July 2018, saved $53,329 toward a pension over 14 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Flowers would collect as much as $831,077, according to a projection by Local Government Information Services (LGIS), which publishes SW Illinois News.

The projection assumes Flowers received $17,468 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Flowers will have already received $53,992 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