Former state school employee Naylor paid in $99K to teachers' pension fund, could collect $1.95M in retirement

By Local Labs News Service

Jun 1, 2016

Former state school employee Joseph Naylor, who retired in May 2016, saved $98,653 toward a pension over 23 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Naylor would collect as much as $1.95 million, according to a projection by Local Government Information Services (LGIS), which publishes Metro East Sun.

The projection assumes Naylor received $40,996 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Naylor will have already received $126,715 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Cahokia Community Unit School District 187

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