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Grundy Reporter

Saturday, June 7, 2025

Former state school employee Reynolds paid in $69K to teachers' pension fund, could collect $1.05M in retirement

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Former state school employee Carolyn Reynolds, who retired in May 2016, saved $68,960 toward a pension over 15 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Reynolds would collect as much as $1.05 million, according to a projection by Local Government Information Services (LGIS), which publishes Grundy Reporter.

The projection assumes Reynolds received $21,989 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Reynolds will have already received $91,994 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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