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Macon Reporter

Saturday, April 20, 2024

Decatur School District 61 Boyd paid in $151K to teachers pension fund, could collect $5.6 million in retirement

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Retired Decatur School District 61 employee Kari Boyd saved $150,611 toward her pension over 34 years working for public schools, Illinois Teachers' Retirement Fund (TRS) records show.

Over 41 years of retirement, Boyd would collect as much as $5.575 million, according to a projection by Local Government Information Services (LGIS), which publishes Macon Reporter.

Boyd, 54, who currently lives in Warrensburg, earned $149 in her final year at Decatur School District 61.

The projection assumes Boyd will receive $67,394 in her first year of retirement, then 3 percent annual increases thereafter, compounded.

After three years of retirement, Boyd will have already received $208,308 in retirement benefits, or more than the sum total of her contributions to the state teachers' pension fund.

According to the Illinois State Board of Education (ISBE), 10.7 percent of Decatur School District 61 students met or exceeded the standards for the "PARCC" exams. ISBE reported that 29.2 percent of district's graduates were deemed "college ready" last year.

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