Quantcast

Rockford Sun

Monday, November 25, 2024

Former state school employee Romero paid in $15K to teachers' pension fund, could collect $503K in retirement

Money836

Former state school employee Virginia Romero, who retired in July 2017, saved $15,233 toward a pension over 6 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Romero would collect as much as $503,012, according to a projection by Local Government Information Services (LGIS), which publishes Rockford Sun.

The projection assumes Romero received $10,572 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Romero will have already received $21,461 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