Former state school employee Munsell paid in $12K to teachers' pension fund, could collect $264K in retirement

By Local Labs News Service

Oct 1, 2016

Former state school employee Joanne Munsell, who retired in September 2016, saved $12,282 toward a pension over 9 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Munsell would collect as much as $263,524, according to a projection by Local Government Information Services (LGIS), which publishes Kendall County Times.

The projection assumes Munsell received $5,539 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Munsell will have already received $17,120 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

Minooka Community Consolidated School District 201

!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