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DeKalb Times

Friday, November 22, 2024

Former state school employee Griswold paid in $103K to teachers' pension fund, could collect $2.02M in retirement

Money 05

Former state school employee Deborah Griswold, who retired in May 2018, saved $102,955 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, Griswold would collect as much as $2.02 million, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Griswold received $42,489 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Griswold will have already received $131,330 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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