Lake County Gazette

Lake County Gazette

Monday, November 18, 2019

Former state school employee Wilcox paid in $103K to teachers' pension fund, could collect $1.9M in retirement


By Local Labs News Service | Jul 1, 2016


Former state school employee Ruth Wilcox, who retired in June 2016, saved $103,453 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, Wilcox would collect as much as $1.9 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Wilcox received $39,995 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Wilcox will have already received $123,621 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 Lincolnshire Prairie View School District 103 ?

Sign-up Next time we write about Lincolnshire Prairie View School District 103, we'll email you a link to the story. You may edit your settings or unsubscribe at any time.

Organizations in this Story

Lincolnshire Prairie View School District 103

More News