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Macon Reporter

Friday, November 22, 2024

Former state school employee Tompoles paid in $11K to teachers' pension fund, could collect $630K in retirement

Money 05

Former state school employee Teresa Tompoles, who retired in December 2016, saved $11,294 toward a pension over 9 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Tompoles would collect as much as $630,182, according to a projection by Local Government Information Services (LGIS), which publishes Macon Reporter.

The projection assumes Tompoles received $13,245 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Tompoles will have already received $13,245 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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