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McHenry Times

Saturday, April 20, 2024

Former state school employee Griffith paid in $119K to teachers' pension fund, could collect $2.28M in retirement

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Former state school employee Donna Griffith, who retired in May 2018, saved $119,471 toward a pension over 29 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Griffith would collect as much as $2.28 million, according to a projection by Local Government Information Services (LGIS), which publishes McHenry Times.

The projection assumes Griffith received $47,939 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Griffith will have already received $148,174 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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