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Macon Reporter

Wednesday, November 6, 2024

Former state school employee Disney paid in $37K to teachers' pension fund, could collect $521K in retirement

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Former state school employee Barbara Disney, who retired in May 2018, saved $36,812 toward a pension over 11 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Disney would collect as much as $520,927, according to a projection by Local Government Information Services (LGIS), which publishes Macon Reporter.

The projection assumes Disney received $10,949 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Disney will have already received $45,804 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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