Former state school employee Winn paid in $82K to teachers' pension fund, could collect $1.53M in retirement

By Rock Island Today Reports

Jun 1, 2016

Former state school employee Colleen Winn, who retired in May 2016, saved $81,935 toward a pension over 22 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Winn would collect as much as $1.53 million, according to a projection by Local Government Information Services (LGIS), which publishes Rock Island Today.

The projection assumes Winn received $32,235 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Winn will have already received $99,635 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

Kewanee Community Unit School District 229 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