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McHenry Times

Friday, April 26, 2024

Former state school employee Senyshyn paid in $40K to teachers' pension fund, could collect $1.62M in retirement

Money 08

Former state school employee Crystal Senyshyn, who retired in July 2018, saved $40,165 toward a pension over 22 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Senyshyn would collect as much as $1.62 million, according to a projection by Local Government Information Services (LGIS), which publishes McHenry Times.

The projection assumes Senyshyn received $34,070 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Senyshyn will have already received $69,162 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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