Quantcast

Illinois Valley Times

Friday, December 27, 2024

Former state school employee Heiman paid in $126K to teachers' pension fund, could collect $2.61M in retirement

Money 04

Former state school employee Erin Heiman, who retired in May 2017, saved $126,374 toward a pension over 35 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Heiman would collect as much as $2.61 million, according to a projection by Local Government Information Services (LGIS), which publishes Illinois Valley Times.

The projection assumes Heiman received $54,963 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Heiman will have already received $169,885 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