Quantcast

Rockford Sun

Wednesday, December 25, 2024

Former state school employee Sturges paid in $115K to teachers' pension fund, could collect $2.27M in retirement

Money272

Former state school employee Cheryl Sturges, who retired in May 2017, saved $115,013 toward a pension over 25 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Sturges would collect as much as $2.27 million, according to a projection by Local Government Information Services (LGIS), which publishes Rockford Sun.

The projection assumes Sturges received $47,634 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Sturges will have already received $147,232 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

!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