Former state school employee Poulemanos paid in $2K to teachers' pension fund, could collect $74K in retirement

By Local Labs News Service

Aug 1, 2018

Former state school employee Timothy Poulemanos, who retired in July 2018, saved $2,430 toward a pension over 1 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Poulemanos would collect as much as $74,132, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Poulemanos received $1,558 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Poulemanos will have already received $3,163 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

Special Education District Of Lake County

!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