Former state school employee Reynolds paid in $41K to teachers' pension fund, could collect $1.12M in retirement

By Local Labs News Service

Jul 1, 2017

Former state school employee Cynthia Reynolds, who retired in June 2017, saved $41,380 toward a pension over 16 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Reynolds would collect as much as $1.12 million, according to a projection by Local Government Information Services (LGIS), which publishes NW Illinois News.

The projection assumes Reynolds received $23,607 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Reynolds will have already received $47,922 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

Rock Falls Elementary School District 13 Board

!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