Quantcast

Galesburg Reporter

Friday, November 22, 2024

Former state school employee Kroll paid in $54K to teachers' pension fund, could collect $798K in retirement

Money 01

Former state school employee Robert Kroll, who retired in March 2018, saved $54,101 toward a pension over 10 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Kroll would collect as much as $798,033, according to a projection by Local Government Information Services (LGIS), which publishes Galesburg Reporter.

The projection assumes Kroll received $16,774 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Kroll will have already received $70,175 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