Former state school employee Cross paid in $58K to teachers' pension fund, could collect $1.13M in retirement

By Rock Island Today Reports

Aug 1, 2017

Former state school employee Joni Cross, who retired in July 2017, saved $57,743 toward a pension over 18 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Cross would collect as much as $1.13 million, according to a projection by Local Government Information Services (LGIS), which publishes Rock Island Today.

The projection assumes Cross received $23,673 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Cross will have already received $73,170 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

Silvis School District 34 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