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Illinois Valley Times

Monday, November 25, 2024

Former state school employee Enger paid in $50K to teachers' pension fund, could collect $730K in retirement

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Former state school employee Carla Enger, who retired in May 2016, saved $49,559 toward a pension over 11 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Enger would collect as much as $730,221, according to a projection by Local Government Information Services (LGIS), which publishes Illinois Valley Times.

The projection assumes Enger received $15,348 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Enger will have already received $64,208 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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