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Illinois Valley Times

Saturday, November 23, 2024

Former state school employee Stouffer paid in $180K to teachers' pension fund, could collect $4.54M in retirement

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Former state school employee Mary Stouffer, who retired in June 2016, saved $179,806 toward a pension over 35 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Stouffer would collect as much as $4.54 million, according to a projection by Local Government Information Services (LGIS), which publishes Illinois Valley Times.

The projection assumes Stouffer received $95,349 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Stouffer will have already received $193,558 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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