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West Central Reporter

Thursday, April 25, 2024

Former state school employee Rowland paid in $56K to teachers' pension fund, could collect $984K in retirement

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Former state school employee Donna Rowland, who retired in May 2018, saved $56,142 toward a pension over 16 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Rowland would collect as much as $984,091, according to a projection by Local Government Information Services (LGIS), which publishes West Central Reporter.

The projection assumes Rowland received $20,684 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Rowland will have already received $63,933 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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