Quantcast

Rockford Sun

Wednesday, December 25, 2024

Former state school employee Griffin paid in $101K to teachers' pension fund, could collect $2.16M in retirement

Shutterstock 450769633

Former state school employee Linda Griffin, who retired in May 2017, saved $100,684 toward a pension over 22 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Griffin would collect as much as $2.16 million, according to a projection by Local Government Information Services (LGIS), which publishes Rockford Sun.

The projection assumes Griffin received $45,478 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Griffin will have already received $140,567 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