Former state school employee Rust paid in $112K to teachers' pension fund, could collect $2.7M in retirement

By Local Labs News Service

Jun 1, 2018

Former state school employee Leann Rust, who retired in May 2018, saved $111,908 toward a pension over 35 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Rust would collect as much as $2.7 million, according to a projection by Local Government Information Services (LGIS), which publishes NW Illinois News.

The projection assumes Rust received $56,702 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Rust will have already received $115,105 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

Scales Mound Community Unit School District 211

!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