Former state school employee Boyd paid in $18K to teachers' pension fund, could collect $221K in retirement

By Local Labs News Service

Nov 1, 2017

Former state school employee Raymond Boyd, who retired in October 2017, saved $17,664 toward a pension over 5 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 $220,974, according to a projection by Local Government Information Services (LGIS), which publishes SE Illinois News.

The projection assumes Boyd received $4,644 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Boyd will have already received $19,427 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Carrier Mills-Stonefort Community Unit School District Board

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