Pensions appear like a very good retirement plan based on this article about TRS retirees. Almost seems too good to be true.
Illinois Teachers' Retirement Fund to pay out more than $164M to 86 new beneficiaries, who saved a collective $5.7M
In July and August 2018, 86 newly retired school district employees from throughout the state began collecting pensions from the Illinois Teachers' Retirement Fund (TRS).
TRS Records show that those retirees earned $63,622,060 while employed, but cumulatively only contributed $5,682,242 into the pension fund. Assuming they each live to be 90 years old, those pensioners are expected to collect $164,417,364 from TRS.
Illinois Teachers' Retirement Fund to pay out more than $164M to 86 new beneficiaries, who saved a collective $5.7M
In July and August 2018, 86 newly retired school district employees from throughout the state began collecting pensions from the Illinois Teachers' Retirement Fund (TRS).
TRS Records show that those retirees earned $63,622,060 while employed, but cumulatively only contributed $5,682,242 into the pension fund. Assuming they each live to be 90 years old, those pensioners are expected to collect $164,417,364 from TRS.
