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Peoria Standard

Tuesday, November 26, 2024

Former state school employee Poore paid in $134K to teachers' pension fund, could collect $3.26M in retirement

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Former state school employee Mary Poore, who retired in May 2018, saved $133,722 toward a pension over 27 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Poore would collect as much as $3.26 million, according to a projection by Local Government Information Services (LGIS), which publishes Peoria Standard.

The projection assumes Poore received $68,489 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Poore will have already received $139,033 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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