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Sangamon Sun

Friday, April 26, 2024

Former state school employee Moore paid in $3K to teachers' pension fund, could collect $72K in retirement

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Former state school employee Angela Moore, who retired in July 2018, saved $2,789 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, Moore would collect as much as $72,088, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Moore received $1,515 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Moore will have already received $3,075 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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