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Illinois Valley Times

Friday, December 27, 2024

Former state school employee Mosier paid in $178K to teachers' pension fund, could collect $5.54M in retirement

Money759

Former state school employee Leon Mosier, who retired in May 2017, saved $177,638 toward a pension over 50 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Mosier would collect as much as $5.54 million, according to a projection by Local Government Information Services (LGIS), which publishes Illinois Valley Times.

The projection assumes Mosier received $116,365 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Mosier will have already received $236,221 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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