Quantcast

Peoria Standard

Thursday, April 25, 2024

Former state school employee Bell paid in $103K to teachers' pension fund, could collect $2.1M in retirement

Money041

Former state school employee Janet Bell, who retired in May 2018, saved $103,488 toward a pension over 24 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Bell would collect as much as $2.1 million, according to a projection by Local Government Information Services (LGIS), which publishes Peoria Standard.

The projection assumes Bell received $44,171 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Bell will have already received $136,528 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