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West Central Reporter

Wednesday, November 27, 2024

Former state school employee Wright paid in $117K to teachers' pension fund, could collect $3.26M in retirement

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Former state school employee Deborah Wright, who retired in June 2016, saved $117,383 toward a pension over 39 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Wright would collect as much as $3.26 million, according to a projection by Local Government Information Services (LGIS), which publishes West Central Reporter.

The projection assumes Wright received $68,453 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Wright will have already received $138,960 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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