Quantcast

Rock Island Today

Wednesday, April 24, 2024

Former state school employee Ruthey paid in $58K to teachers' pension fund, could collect $1.05M in retirement

Money836

Former state school employee Mia Ruthey, who retired in August 2018, saved $58,121 toward a pension over 17 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Ruthey would collect as much as $1.05 million, according to a projection by Local Government Information Services (LGIS), which publishes Rock Island Today.

The projection assumes Ruthey received $21,977 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Ruthey will have already received $67,928 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

!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