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Kendall County Times

Saturday, November 23, 2024

Former state school employee Taylor paid in $169K to teachers' pension fund, could collect $3.88M in retirement

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Former state school employee David Taylor, who retired in June 2016, saved $168,625 toward a pension over 35 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Taylor would collect as much as $3.88 million, according to a projection by Local Government Information Services (LGIS), which publishes Kendall County Times.

The projection assumes Taylor received $81,480 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Taylor will have already received $251,846 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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