Prairie State Wire

Prairie State Wire

Monday, October 21, 2019

Former state school employee Stauffer paid in $122K to teachers' pension fund, could collect $1.89M in retirement

Schools

By Local Labs News Service | Dec 1, 2017


Former state school employee Karen Stauffer, who retired in November 2017, saved $121,506 toward a pension over 19 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Stauffer would collect as much as $1.89 million, according to a projection by Local Government Information Services (LGIS), which publishes Prairie State Wire.

The projection assumes Stauffer received $39,803 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Stauffer will have already received $123,027 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

Want to get notified whenever we write about Illinois State Board of Education ?

Sign-up Next time we write about Illinois State Board of Education, we'll email you a link to the story. You may edit your settings or unsubscribe at any time.

Organizations in this Story

Illinois State Board of Education

More News