Lake County Gazette

Lake County Gazette

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Former state school employee Motley paid in $188K to teachers' pension fund, could collect $3.77M in retirement

Schools

By Local Labs News Service | Jul 1, 2016

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Former state school employee Mary Motley, who retired in June 2016, saved $188,423 toward a pension over 30 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Motley would collect as much as $3.77 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Motley received $79,345 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Motley will have already received $245,247 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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