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South Central Reporter

Saturday, November 23, 2024

Former state school employee Golike Morris paid in $97K to teachers' pension fund, could collect $1.73M in retirement

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Former state school employee Susanne Golike Morris, who retired in May 2017, saved $96,517 toward a pension over 23 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Golike Morris would collect as much as $1.73 million, according to a projection by Local Government Information Services (LGIS), which publishes South Central Reporter.

The projection assumes Golike Morris received $36,279 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Golike Morris will have already received $112,134 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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