Quantcast

McLean County Times

Tuesday, November 26, 2024

Former state school employee Meister paid in $109K to teachers' pension fund, could collect $2.19M in retirement

Shutterstock 369740408

Former state school employee Cynthia Meister, who retired in May 2016, saved $108,857 toward a pension over 34 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Meister would collect as much as $2.19 million, according to a projection by Local Government Information Services (LGIS), which publishes McLean County Times.

The projection assumes Meister received $46,004 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Meister will have already received $142,194 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