Former state school employee Laughlin paid in $124K to teachers' pension fund, could collect $2.32M in retirement

By Local Labs News Service

Jun 1, 2018

Former state school employee Patricia Laughlin, who retired in May 2018, saved $124,255 toward a pension over 31 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Laughlin would collect as much as $2.32 million, according to a projection by Local Government Information Services (LGIS), which publishes NW Illinois News.

The projection assumes Laughlin received $48,798 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Laughlin will have already received $150,830 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

West Carroll Community Unit School District 314 Board

!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