Former state school employee Conway paid in $172K to teachers' pension fund, could collect $3.5M in retirement

By Local Labs News Service

Jun 1, 2018

Former state school employee Timothy Conway, who retired in May 2018, saved $172,084 toward a pension over 27 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 $3.5 million, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Conway received $73,486 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Conway will have already received $227,139 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Lincoln Way Community High School District 210

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