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Sangamon Sun

Sunday, November 24, 2024

Former state school employee Graves paid in $13K to teachers' pension fund, could collect $218K in retirement

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Former state school employee Silretta Graves, who retired in January 2017, saved $13,375 toward a pension over 2 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Graves would collect as much as $217,885, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Graves received $4,579 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Graves will have already received $14,152 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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