Quantcast

Lake County Gazette

Thursday, April 18, 2024

Former state school employee Siano Eck paid in $30K to teachers' pension fund, could collect $1.15M in retirement

Money759

Former state school employee Virginia Siano Eck, who retired in June 2016, saved $29,766 toward a pension over 18 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Siano Eck would collect as much as $1.15 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Siano Eck received $24,264 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Siano Eck will have already received $49,256 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

!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