Quantcast

Kendall County Times

Sunday, April 28, 2024

Former state school employee Ashton paid in $63K to teachers' pension fund, could collect $816K in retirement

Money272

Former state school employee April Ashton, who retired in January 2018, saved $63,241 toward a pension over 15 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Ashton would collect as much as $815,594, according to a projection by Local Government Information Services (LGIS), which publishes Kendall County Times.

The projection assumes Ashton received $17,143 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Ashton will have already received $71,720 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