Quantcast

Chicago City Wire

Friday, December 27, 2024

Former state school employee Tillery paid in $72K to teachers' pension fund, could collect $1.53M in retirement

Shutterstock 225154648

Former state school employee Mary Tillery, who retired in March 2016, saved $72,491 toward a pension over 19 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Tillery would collect as much as $1.53 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Tillery received $32,201 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Tillery will have already received $99,530 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

!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

MORE NEWS