Quantcast

East Central Reporter

Friday, April 19, 2024

Former state school employee Croy paid in $104K to teachers' pension fund, could collect $1.89M in retirement

Shutterstock 369740408

Former state school employee Marci Croy, who retired in May 2016, saved $104,069 toward a pension over 33 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Croy would collect as much as $1.89 million, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Croy received $39,741 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Croy will have already received $122,835 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.
Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.
Donate

MORE NEWS