Quantcast

Lake County Gazette

Friday, April 26, 2024

Former state school employee Harris paid in $89K to teachers' pension fund, could collect $1.88M in retirement

Money 05

Former state school employee Ellen Harris, who retired in December 2016, saved $89,314 toward a pension over 22 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 $1.88 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Harris received $39,411 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Harris will have already received $121,815 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

!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