Former state school employee Freedman paid in $243K to teachers' pension fund, could collect $6.01M in retirement

By Local Labs News Service

Aug 1, 2018

Former state school employee Michelle Freedman, who retired in July 2018, saved $242,646 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, Freedman would collect as much as $6.01 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Freedman received $126,276 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Freedman will have already received $256,340 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

Township High School District 113 Board

!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