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DeKalb Times

Sunday, November 17, 2024

Former state school employee Theis paid in $33K to teachers' pension fund, could collect $1.05M in retirement

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Former state school employee Holly Theis, who retired in June 2018, saved $33,338 toward a pension over 8 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Theis would collect as much as $1.05 million, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Theis received $22,134 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Theis will have already received $44,932 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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