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South Central Reporter

Saturday, November 23, 2024

Former state school employee Stine paid in $90K to teachers' pension fund, could collect $1.95M in retirement

Money759

Former state school employee Sandra Stine, who retired in May 2017, saved $90,474 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, Stine would collect as much as $1.95 million, according to a projection by Local Government Information Services (LGIS), which publishes South Central Reporter.

The projection assumes Stine received $41,081 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Stine will have already received $126,976 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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