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McLean County Times

Sunday, November 24, 2024

Former state school employee Gash paid in $4K to teachers' pension fund, could collect $119K in retirement

Money041

Former state school employee Ronald Gash, who retired in December 2017, saved $4,354 toward a pension over 5 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Gash would collect as much as $118,851, according to a projection by Local Government Information Services (LGIS), which publishes McLean County Times.

The projection assumes Gash received $2,498 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Gash will have already received $5,071 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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