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Kendall County Times

Monday, November 25, 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.

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