Quantcast

McHenry Times

Tuesday, April 23, 2024

Former state school employee Weisman paid in $242K to teachers' pension fund, could collect $4.37M in retirement

Money272

Former state school employee Mary Weisman, who retired in December 2017, saved $241,749 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, Weisman would collect as much as $4.37 million, according to a projection by Local Government Information Services (LGIS), which publishes McHenry Times.

The projection assumes Weisman received $91,868 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Weisman will have already received $283,955 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