West Cook News

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Wednesday, December 11, 2019

Former state school employee Fergurson paid in $156K to teachers' pension fund, could collect $3.36M in retirement

Schools

By West Cook News | May 1, 2017

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Former state school employee Boyd Fergurson, who retired in April 2017, saved $156,052 toward a pension over 37 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Fergurson would collect as much as $3.36 million, according to a projection by Local Government Information Services (LGIS), which publishes West Cook News.

The projection assumes Fergurson received $70,689 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Fergurson will have already received $218,493 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Illinois State Board of Education

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