Will County Gazette

Will County Gazette

Tuesday, October 15, 2019

Former state school employee Conway paid in $207K to teachers' pension fund, could collect $4.67M in retirement

Schools

By Local Labs News Service | Jun 1, 2016


Former state school employee Michelle Conway, who retired in May 2016, saved $206,593 toward a pension over 33 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Conway would collect as much as $4.67 million, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Conway received $98,214 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Conway will have already received $303,569 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Lockport Township High School District 205

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