Former state school employee Fleenor paid in $105K to teachers' pension fund, could collect $1.45M in retirement

By Local Labs News Service

Oct 1, 2017

Former state school employee Melanie Fleenor, who retired in September 2017, saved $104,526 toward a pension over 23 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Fleenor would collect as much as $1.45 million, according to a projection by Local Government Information Services (LGIS), which publishes NW Illinois News.

The projection assumes Fleenor received $30,399 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Fleenor will have already received $127,178 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

Illinois State Board Of Education

!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