Quantcast

Peoria Standard

Tuesday, November 5, 2024

Former state school employee Bateman paid in $38K to teachers' pension fund, could collect $549K in retirement

Money 01

Former state school employee Peggy Bateman, who retired in April 2016, saved $37,765 toward a pension over 15 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Bateman would collect as much as $548,788, according to a projection by Local Government Information Services (LGIS), which publishes Peoria Standard.

The projection assumes Bateman received $11,535 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Bateman will have already received $48,257 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