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Rockford Sun

Saturday, May 18, 2024

Former state school employee Metz paid in $209K to teachers' pension fund, could collect $3.06M in retirement

Money 01

Former state school employee Cheryl Metz, who retired in June 2016, saved $208,862 toward a pension over 32 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Metz would collect as much as $3.06 million, according to a projection by Local Government Information Services (LGIS), which publishes Rockford Sun.

The projection assumes Metz received $64,216 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Metz will have already received $268,654 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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