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McLean County Times

Friday, November 22, 2024

Former state school employee Roys paid in $115K to teachers' pension fund, could collect $1.77M in retirement

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Former state school employee Carolyn Roys, who retired in September 2016, saved $115,255 toward a pension over 24 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Roys would collect as much as $1.77 million, according to a projection by Local Government Information Services (LGIS), which publishes McLean County Times.

The projection assumes Roys received $37,131 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Roys will have already received $155,342 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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