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Illinois Valley Times

Saturday, November 23, 2024

Former state school employee Oseland paid in $122K to teachers' pension fund, could collect $2.21M in retirement

Money 06

Former state school employee Pamela Oseland, who retired in June 2016, saved $121,627 toward a pension over 31 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Oseland would collect as much as $2.21 million, according to a projection by Local Government Information Services (LGIS), which publishes Illinois Valley Times.

The projection assumes Oseland received $46,348 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Oseland will have already received $143,256 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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