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Will County Gazette

Saturday, November 23, 2024

Former state school employee Moore paid in $30K to teachers' pension fund, could collect $1.14M in retirement

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Former state school employee Karen Moore, who retired in July 2016, saved $30,140 toward a pension over 17 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Moore would collect as much as $1.14 million, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Moore received $23,980 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Moore will have already received $48,679 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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