Former state school employee Piatak paid in $124K to teachers' pension fund, could collect $2.4M in retirement

By Rock Island Today Reports

Jul 1, 2018

Former state school employee Susan Piatak, who retired in June 2018, saved $124,369 toward a pension over 27 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Piatak would collect as much as $2.4 million, according to a projection by Local Government Information Services (LGIS), which publishes Rock Island Today.

The projection assumes Piatak received $50,547 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Piatak will have already received $156,235 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

East Moline School District 37 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