Quantcast

McLean County Times

Monday, December 23, 2024

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

Shutterstock 381111379

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.

!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