Former state school employee Quick paid in $107K to teachers' pension fund, could collect $2.3M in retirement

By Local Labs News Service

Jun 1, 2017

Former state school employee Kathy Quick, who retired in May 2017, saved $107,313 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, Quick would collect as much as $2.3 million, according to a projection by Local Government Information Services (LGIS), which publishes NW Illinois News.

The projection assumes Quick received $48,317 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Quick will have already received $149,344 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

Erie Community Unit School District 1

!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