Quantcast

Metro East Sun

Monday, May 20, 2024

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

Shutterstock 267646277

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.

ORGANIZATIONS IN THIS STORY

!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

MORE NEWS