Quantcast

SE Illinois News

Monday, November 25, 2024

Former state school employee Boyd paid in $16K to teachers' pension fund, could collect $435K in retirement

Shutterstock 443523112

Former state school employee Kelly Boyd, who retired in November 2018, saved $15,901 toward a pension over 7 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Boyd would collect as much as $435,223, according to a projection by Local Government Information Services (LGIS), which publishes SE Illinois News.

The projection assumes Boyd received $9,148 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Boyd will have already received $18,570 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

!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