Rock Island Today

Rock Island Today

Tuesday, October 22, 2019

Former state school employee Menke paid in $176K to teachers' pension fund, could collect $3.74M in retirement

Schools

By Rock Island Today Reports | Jul 1, 2018


Former state school employee Sharon Menke, who retired in June 2018, saved $175,599 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, Menke would collect as much as $3.74 million, according to a projection by Local Government Information Services (LGIS), which publishes Rock Island Today.

The projection assumes Menke received $78,607 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Menke will have already received $242,966 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

Want to get notified whenever we write about Moline Coal Valley Community Unit School District 40 ?

Sign-up Next time we write about Moline Coal Valley Community Unit School District 40, we'll email you a link to the story. You may edit your settings or unsubscribe at any time.

Organizations in this Story

Moline Coal Valley Community Unit School District 40

More News