Former state school employee Tronc paid in $22K to teachers' pension fund, could collect $623K in retirement

By Local Labs News Service

Jun 1, 2016

Former state school employee Mary Tronc, who retired in May 2016, saved $21,616 toward a pension over 9 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Tronc would collect as much as $622,720, according to a projection by Local Government Information Services (LGIS), which publishes McLean County Times.

The projection assumes Tronc received $13,089 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Tronc will have already received $26,571 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

Pontiac Community Consolidated School District 429

!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