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Dupage Policy Journal

Thursday, April 18, 2024

Former state school employee Lawley paid in $18K to teachers' pension fund, could collect $577K in retirement

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Former state school employee Mary Lawley, who retired in June 2016, saved $17,984 toward a pension over 13 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Lawley would collect as much as $577,236, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Lawley received $12,133 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Lawley will have already received $24,630 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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