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Chambana Sun

Monday, November 25, 2024

Former state school employee Delanois paid in $89K to teachers' pension fund, could collect $1.75M in retirement

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Former state school employee Cynthia Delanois, who retired in June 2017, saved $88,716 toward a pension over 28 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Delanois would collect as much as $1.75 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Delanois received $36,703 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Delanois will have already received $113,445 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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