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Macon Reporter

Monday, December 23, 2024

Former state school employee Scherer paid in $10K to teachers' pension fund, could collect $164K in retirement

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Former state school employee Viki Scherer, who retired in June 2016, saved $9,826 toward a pension over 8 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Scherer would collect as much as $163,878, according to a projection by Local Government Information Services (LGIS), which publishes Macon Reporter.

The projection assumes Scherer received $3,444 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Scherer will have already received $10,644 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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