Lake County Gazette

Lake County Gazette

Saturday, November 16, 2019

Former state school employee Kim paid in $88K to teachers' pension fund, could collect $1.52M in retirement

Schools

By Local Labs News Service | Jul 1, 2018

Shutterstock 267646277

Former state school employee Sachiko Kim, who retired in June 2018, saved $88,237 toward a pension over 19 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Kim would collect as much as $1.52 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Kim received $31,988 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Kim will have already received $98,872 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

Want to get notified whenever we write about Hawthorn Community Consolidated School District 73 ?

Sign-up Next time we write about Hawthorn Community Consolidated School District 73, we'll email you a link to the story. You may edit your settings or unsubscribe at any time.

Organizations in this Story

Hawthorn Community Consolidated School District 73

More News