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Peoria Standard

Tuesday, November 26, 2024

Former state school employee Durley paid in $132K to teachers' pension fund, could collect $2.89M in retirement

Money 01

Former state school employee Jill Durley, who retired in May 2018, saved $131,805 toward a pension over 35 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Durley would collect as much as $2.89 million, according to a projection by Local Government Information Services (LGIS), which publishes Peoria Standard.

The projection assumes Durley received $60,772 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Durley will have already received $187,840 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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