Quantcast

Lake County Gazette

Tuesday, November 26, 2024

Former state school employee Roller paid in $63K to teachers' pension fund, could collect $1.8M in retirement

Shutterstock 262120544

Former state school employee Daniel Roller, who retired in September 2016, saved $62,974 toward a pension over 13 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Roller would collect as much as $1.8 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Roller received $37,917 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Roller will have already received $76,972 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

MORE NEWS