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Sangamon Sun

Friday, May 3, 2024

Former state school employee Wille paid in $131K to teachers' pension fund, could collect $2.61M in retirement

Money 07

Former state school employee Tamra Wille, who retired in May 2018, saved $131,237 toward a pension over 22 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Wille would collect as much as $2.61 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Wille received $54,881 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Wille will have already received $169,631 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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