East Central Reporter

East Central Reporter

Tuesday, October 15, 2019

Former state school employee Findley paid in $96K to teachers' pension fund, could collect $1.37M in retirement

Schools

By East Central Reporter Reports | Jun 1, 2018


Former state school employee Keith Findley, who retired in May 2018, saved $96,388 toward a pension over 26 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Findley would collect as much as $1.37 million, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Findley received $28,892 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Findley will have already received $120,875 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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