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East Central Reporter

Thursday, December 26, 2024

Former state school employee Ruff paid in $123K to teachers' pension fund, could collect $2.27M in retirement

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Former state school employee David Ruff, who retired in May 2016, saved $122,686 toward a pension over 34 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Ruff would collect as much as $2.27 million, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Ruff received $47,644 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Ruff will have already received $147,262 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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