Former state school employee Coulahan paid in $194K to teachers' pension fund, could collect $3.01M in retirement

By Local Labs News Service

Jul 1, 2018

Former state school employee Mike Coulahan, who retired in June 2018, saved $193,915 toward a pension over 33 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Coulahan would collect as much as $3.01 million, according to a projection by Local Government Information Services (LGIS), which publishes NW Illinois News.

The projection assumes Coulahan received $63,260 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Coulahan will have already received $195,531 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

Meridian Community Unit School District 223

!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