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Sangamon Sun

Tuesday, November 12, 2024

Former state school employee Dye paid in $98K to teachers' pension fund, could collect $2.92M in retirement

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Former state school employee Sally Dye, who retired in May 2018, saved $98,401 toward a pension over 48 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Dye would collect as much as $2.92 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Dye received $61,369 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Dye will have already received $124,579 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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