Quantcast

Kankakee Times

Tuesday, November 26, 2024

Former state school employee Boudreau paid in $72K to teachers' pension fund, could collect $1.52M in retirement

Money 05

Former state school employee Barbara Boudreau, who retired in May 2017, saved $71,940 toward a pension over 22 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Boudreau would collect as much as $1.52 million, according to a projection by Local Government Information Services (LGIS), which publishes Kankakee Times.

The projection assumes Boudreau received $31,922 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Boudreau will have already received $98,668 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

!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