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North Cook News

Friday, April 19, 2024

Former state school employee Moss paid in $204K to teachers' pension fund, could collect $4.14M in retirement

Money 02

Former state school employee Joy Moss, who retired in June 2017, saved $203,891 toward a pension over 33 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Moss would collect as much as $4.14 million, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Moss received $86,942 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Moss will have already received $268,729 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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