Quantcast

Macon Reporter

Friday, November 22, 2024

Former state school employee Szalankiewicz paid in $1K to teachers' pension fund, could collect $105K in retirement

Money 03

Former state school employee Jacqueline Szalankiewicz, who retired in August 2017, saved $1,335 toward a pension over 1 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Szalankiewicz would collect as much as $104,664, according to a projection by Local Government Information Services (LGIS), which publishes Macon Reporter.

The projection assumes Szalankiewicz received $2,199 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Szalankiewicz will have already received $2,199 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

MORE NEWS