Former state school employee Vidakovich paid in $44K to teachers' pension fund, could collect $1.28M in retirement

By Rock Island Today Reports

Aug 1, 2016

Former state school employee Judy Vidakovich, who retired in July 2016, saved $43,542 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, Vidakovich would collect as much as $1.28 million, according to a projection by Local Government Information Services (LGIS), which publishes Rock Island Today.

The projection assumes Vidakovich received $26,899 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Vidakovich will have already received $54,605 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

Cambridge Community Unit School District 227 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