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DeKalb Times

Thursday, November 21, 2024

Former state school employee Moulton paid in $179K to teachers' pension fund, could collect $4.19M in retirement

Money 08

Former state school employee Maura Moulton, who retired in May 2017, saved $178,950 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, Moulton would collect as much as $4.19 million, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Moulton received $88,153 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Moulton will have already received $178,951 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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