Quantcast

Kankakee Times

Tuesday, April 23, 2024

Former state school employee Menser paid in $120K to teachers' pension fund, could collect $2.91M in retirement

Money041

Former state school employee Diana Menser, who retired in May 2017, saved $119,641 toward a pension over 35 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Menser would collect as much as $2.91 million, according to a projection by Local Government Information Services (LGIS), which publishes Kankakee Times.

The projection assumes Menser received $61,076 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Menser will have already received $123,984 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