Former state school employee Randle Morcom paid in $41K to teachers' pension fund, could collect $1.29M in retirement

By Local Labs News Service

Jun 1, 2016

Former state school employee Connie Randle Morcom, who retired in May 2016, saved $41,435 toward a pension over 14 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Randle Morcom would collect as much as $1.29 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Randle Morcom received $27,177 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Randle Morcom will have already received $55,169 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

Lake County Area Vocational

!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