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West Cook News

Monday, November 25, 2024

Former state school employee Traywick paid in $197K to teachers' pension fund, could collect $4.07M in retirement

Money 06

Former state school employee Belinda Traywick, who retired in July 2016, saved $197,239 toward a pension over 38 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Traywick would collect as much as $4.07 million, according to a projection by Local Government Information Services (LGIS), which publishes West Cook News.

The projection assumes Traywick received $85,529 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Traywick will have already received $264,362 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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