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Sangamon Sun

Thursday, April 25, 2024

Former state school employee Privia paid in $104K to teachers' pension fund, could collect $2.1M in retirement

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Former state school employee Lisa Privia, who retired in May 2016, saved $104,286 toward a pension over 36 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Privia would collect as much as $2.1 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Privia received $44,243 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Privia will have already received $136,750 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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