Quantcast

Sangamon Sun

Monday, May 12, 2025

Former state school employee Stocks paid in $116K to teachers' pension fund, could collect $2.49M in retirement

Money 07

Former state school employee Melissa Stocks, who retired in May 2018, saved $115,659 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, Stocks would collect as much as $2.49 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Stocks received $52,258 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Stocks will have already received $161,525 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

MORE NEWS