Former state school employee Mintun paid in $163K to teachers' pension fund, could collect $2.85M in retirement

By Local Labs News Service

Jun 1, 2017

Former state school employee Marcia Mintun, who retired in May 2017, saved $162,597 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, Mintun would collect as much as $2.85 million, according to a projection by Local Government Information Services (LGIS), which publishes NW Illinois News.

The projection assumes Mintun received $59,845 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Mintun will have already received $184,974 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

Dixon Unit School District 170

!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