Quantcast

South Central Reporter

Saturday, November 23, 2024

Former state school employee Detmer paid in $121K to teachers' pension fund, could collect $2.61M in retirement

Shutterstock 381111379

Former state school employee Maribeth Detmer, who retired in May 2017, saved $120,897 toward a pension over 35 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Detmer would collect as much as $2.61 million, according to a projection by Local Government Information Services (LGIS), which publishes South Central Reporter.

The projection assumes Detmer received $54,766 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Detmer will have already received $169,276 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