Quantcast

Kendall County Times

Saturday, May 18, 2024

Former state school employee Wykes paid in $111K to teachers' pension fund, could collect $2.46M in retirement

Money 08

Former state school employee Bonita Wykes, who retired in May 2017, saved $111,483 toward a pension over 27 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Wykes would collect as much as $2.46 million, according to a projection by Local Government Information Services (LGIS), which publishes Kendall County Times.

The projection assumes Wykes received $51,635 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Wykes will have already received $159,599 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