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Sangamon Sun

Friday, November 8, 2024

Former state school employee Sundby paid in $19K to teachers' pension fund, could collect $369K in retirement

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Former state school employee Carla Sundby, who retired in May 2018, saved $19,351 toward a pension over 12 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Sundby would collect as much as $369,232, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Sundby received $7,761 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Sundby will have already received $23,989 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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