Quantcast

McLean County Times

Monday, December 23, 2024

Former state school employee Fergurson paid in $156K to teachers' pension fund, could collect $3.36M in retirement

Shutterstock 443523112

Former state school employee Boyd Fergurson, who retired in April 2017, saved $156,052 toward a pension over 37 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Fergurson would collect as much as $3.36 million, according to a projection by Local Government Information Services (LGIS), which publishes McLean County Times.

The projection assumes Fergurson received $70,689 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Fergurson will have already received $218,493 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