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South Central Reporter

Saturday, November 23, 2024

Former state school employee Curtin paid in $11K to teachers' pension fund, could collect $186K in retirement

Money 06

Former state school employee Ellen Curtin, who retired in September 2016, saved $11,400 toward a pension over 3 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Curtin would collect as much as $186,126, according to a projection by Local Government Information Services (LGIS), which publishes South Central Reporter.

The projection assumes Curtin received $3,912 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Curtin will have already received $12,091 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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