Former state school employee Gerig paid in $155K to teachers' pension fund, could collect $3.17M in retirement

By Local Labs News Service

Jun 1, 2016

Former state school employee Beth Gerig, who retired in May 2016, saved $154,515 toward a pension over 28 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Gerig would collect as much as $3.17 million, according to a projection by Local Government Information Services (LGIS), which publishes Illinois Valley Times.

The projection assumes Gerig received $66,659 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Gerig will have already received $206,037 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

Princeton High School District 500 Board

!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