Quantcast

Rockford Sun

Tuesday, April 23, 2024

Former state school employee Dockins paid in $78K to teachers' pension fund, could collect $1.11M in retirement

Shutterstock 121161052

Former state school employee Barbara Dockins, who retired in July 2018, saved $78,272 toward a pension over 17 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Dockins would collect as much as $1.11 million, according to a projection by Local Government Information Services (LGIS), which publishes Rockford Sun.

The projection assumes Dockins received $23,310 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Dockins will have already received $97,519 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