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Peoria Standard

Saturday, April 20, 2024

Former state school employee Thornton paid in $99K to teachers' pension fund, could collect $2.07M in retirement

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Former state school employee Lori Thornton, who retired in May 2018, saved $99,356 toward a pension over 29 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Thornton would collect as much as $2.07 million, according to a projection by Local Government Information Services (LGIS), which publishes Peoria Standard.

The projection assumes Thornton received $43,479 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Thornton will have already received $134,388 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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