Quantcast

Peoria Standard

Saturday, April 20, 2024

Former state school employee Wiegers paid in $3K to teachers' pension fund, could collect $84K in retirement

Shutterstock 443523118

Former state school employee Patricia Wiegers, who retired in September 2017, saved $3,321 toward a pension over 1 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Wiegers would collect as much as $84,008, according to a projection by Local Government Information Services (LGIS), which publishes Peoria Standard.

The projection assumes Wiegers received $1,765 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Wiegers will have already received $3,583 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