Former state school employee Doyle paid in $87K to teachers' pension fund, could collect $1.58M in retirement

By Local Labs News Service

Jul 1, 2018

Former state school employee Jesse Doyle, who retired in June 2018, saved $86,747 toward a pension over 16 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Doyle would collect as much as $1.58 million, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Doyle received $33,118 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Doyle will have already received $102,365 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

Joliet Public School District 86

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.

Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.

Donate