Lake County Gazette

Lake County Gazette

Tuesday, November 12, 2019

Former state school employee Boyce paid in $147K to teachers' pension fund, could collect $3.3M in retirement

Schools

By Local Labs News Service | Jan 1, 2017

Money 08

Former state school employee Jill Boyce, who retired in December 2016, saved $147,383 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, Boyce would collect as much as $3.3 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Boyce received $69,366 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Boyce will have already received $214,403 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Zion Elementary School District 6

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