Quantcast

Quincy Reporter

Monday, November 25, 2024

Former state school employee Harris paid in $60K to teachers' pension fund, could collect $883K in retirement

Shutterstock 450769633

Former state school employee Karen Harris, who retired in May 2016, saved $60,315 toward a pension over 17 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Harris would collect as much as $882,590, according to a projection by Local Government Information Services (LGIS), which publishes Quincy Reporter.

The projection assumes Harris received $18,551 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Harris will have already received $77,611 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