East Central Reporter

East Central Reporter

Friday, December 6, 2019

Former state school employee Schrey paid in $110K to teachers' pension fund, could collect $2.36M in retirement


By East Central Reporter Reports | Jun 1, 2018


Former state school employee Cynthia Schrey, who retired in May 2018, saved $110,300 toward a pension over 31 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Schrey would collect as much as $2.36 million, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Schrey received $49,679 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Schrey will have already received $153,552 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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