Quantcast

Peoria Standard

Monday, November 25, 2024

Former state school employee Reynolds paid in $168K to teachers' pension fund, could collect $3.62M in retirement

Money 01

Former state school employee Kyle Reynolds, who retired in July 2017, saved $168,141 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, Reynolds would collect as much as $3.62 million, according to a projection by Local Government Information Services (LGIS), which publishes Peoria Standard.

The projection assumes Reynolds received $76,024 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Reynolds will have already received $234,983 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

!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