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Carbondale Reporter

Monday, November 25, 2024

Former state school employee Tyner paid in $99K to teachers' pension fund, could collect $1.84M in retirement

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Former state school employee Monty Tyner, who retired in May 2017, saved $99,462 toward a pension over 25 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Tyner would collect as much as $1.84 million, according to a projection by Local Government Information Services (LGIS), which publishes Carbondale Reporter.

The projection assumes Tyner received $38,577 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Tyner will have already received $119,237 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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