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Sangamon Sun

Tuesday, November 5, 2024

Former state school employee Doheny paid in $90K to teachers' pension fund, could collect $1.52M in retirement

Money 02

Former state school employee Jeanne Doheny, who retired in June 2017, saved $90,227 toward a pension over 16 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Doheny would collect as much as $1.52 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Doheny received $32,051 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Doheny will have already received $99,067 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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