Quantcast

Peoria Standard

Wednesday, December 25, 2024

Former state school employee Gribble paid in $85K to teachers' pension fund, could collect $1.86M in retirement

Money272

Former state school employee Sheila Gribble, who retired in May 2016, saved $84,544 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, Gribble would collect as much as $1.86 million, according to a projection by Local Government Information Services (LGIS), which publishes Peoria Standard.

The projection assumes Gribble received $39,165 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Gribble will have already received $121,055 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

!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