Former state school employee Aiken paid in $14K to teachers' pension fund, could collect $609K in retirement

By Local Labs News Service

May 1, 2017

Former state school employee Carolyn Aiken, who retired in April 2017, saved $14,003 toward a pension over 14 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Aiken would collect as much as $608,687, according to a projection by Local Government Information Services (LGIS), which publishes NW Illinois News.

The projection assumes Aiken received $12,794 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Aiken will have already received $25,972 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

Morrison Community Unit School District 6

!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