Former state school employee Cuga Moylan paid in $26K to teachers' pension fund, could collect $456K in retirement

By Local Labs News Service

Jul 1, 2018

Former state school employee Cynthia Cuga Moylan, who retired in June 2018, saved $25,715 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, Cuga Moylan would collect as much as $456,227, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Cuga Moylan received $9,589 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Cuga Moylan will have already received $29,639 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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East Maine School District 63

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