Dupage Policy Journal

Dupage Policy Journal

Monday, October 21, 2019

Former state school employee Molby paid in $205K to teachers' pension fund, could collect $3.97M in retirement

Schools

By Local Labs News Service | Jul 1, 2018


Former state school employee Diana Molby, who retired in June 2018, saved $205,445 toward a pension over 31 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Molby would collect as much as $3.97 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Molby received $83,388 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Molby will have already received $257,745 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

Want to get notified whenever we write about Westmont Community Unit School District 201 ?

Sign-up Next time we write about Westmont Community Unit School District 201, we'll email you a link to the story. You may edit your settings or unsubscribe at any time.

Organizations in this Story

Westmont Community Unit School District 201

More News