Former state school employee Floyd paid in $137K to teachers' pension fund, could collect $3.19M in retirement

By Local Labs News Service

Jul 1, 2016

Former state school employee Ann Floyd, who retired in June 2016, saved $137,314 toward a pension over 40 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Floyd would collect as much as $3.19 million, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Floyd received $66,959 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Floyd will have already received $206,964 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Homewood School District 153

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