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Sangamon Sun

Sunday, December 22, 2024

Former state school employee Leahy paid in $187K to teachers' pension fund, could collect $4.12M in retirement

Money 02

Former state school employee Dawn Leahy, who retired in May 2017, saved $186,712 toward a pension over 35 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Leahy would collect as much as $4.12 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Leahy received $86,500 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Leahy will have already received $267,363 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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