Will County Gazette

Will County Gazette

Saturday, December 7, 2019

Former state school employee Sayers paid in $53K to teachers' pension fund, could collect $879K in retirement


By Local Labs News Service | Jun 1, 2016

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Former state school employee Debra Sayers, who retired in May 2016, saved $53,150 toward a pension over 18 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Sayers would collect as much as $879,370, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Sayers received $18,483 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Sayers will have already received $57,128 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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