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Macon Reporter

Sunday, November 24, 2024

Former state school employee Diener paid in $134K to teachers' pension fund, could collect $3.05M in retirement

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Former state school employee Mary Diener, who retired in June 2017, saved $134,011 toward a pension over 34 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Diener would collect as much as $3.05 million, according to a projection by Local Government Information Services (LGIS), which publishes Macon Reporter.

The projection assumes Diener received $64,086 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Diener will have already received $198,084 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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