Former state school employee Eddy paid in $298K to teachers' pension fund, could collect $11.17M in retirement

By Local Labs News Service

Jul 1, 2018

Former state school employee Roger Eddy, who retired in June 2018, saved $297,680 toward a pension over 39 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Eddy would collect as much as $11.17 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Eddy received $234,855 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Eddy will have already received $476,756 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Il Assoc Of School Boards

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