Former state school employee Waggaman paid in $50K to teachers' pension fund, could collect $581K in retirement

By Local Labs News Service

Jul 1, 2016

Former state school employee Connie Waggaman, who retired in June 2016, saved $50,389 toward a pension over 10 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Waggaman would collect as much as $580,741, according to a projection by Local Government Information Services (LGIS), which publishes NW Illinois News.

The projection assumes Waggaman received $12,206 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Waggaman will have already received $51,064 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

River Bend Community Unit District 2

!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