Quantcast

McHenry Times

Monday, November 25, 2024

Former state school employee Duddleston paid in $184K to teachers' pension fund, could collect $3.38M in retirement

Money 01

Former state school employee Barbara Duddleston, who retired in May 2016, saved $183,966 toward a pension over 30 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Duddleston would collect as much as $3.38 million, according to a projection by Local Government Information Services (LGIS), which publishes McHenry Times.

The projection assumes Duddleston received $71,111 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Duddleston will have already received $219,796 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