Quantcast

Macon Reporter

Saturday, June 28, 2025

Former state school employee Powers paid in $106K to teachers' pension fund, could collect $2.28M in retirement

Shutterstock 121161052

Former state school employee Paul Powers, who retired in May 2017, saved $105,803 toward a pension over 25 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

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

The projection assumes Powers received $47,979 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Powers will have already received $148,298 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.
Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.
Donate

MORE NEWS