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Grundy Reporter

Tuesday, December 24, 2024

Former state school employee Tyrell paid in $139K to teachers' pension fund, could collect $3.09M in retirement

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Former state school employee Cheryl Tyrell, who retired in May 2016, saved $138,952 toward a pension over 35 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Tyrell would collect as much as $3.09 million, according to a projection by Local Government Information Services (LGIS), which publishes Grundy Reporter.

The projection assumes Tyrell received $64,934 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Tyrell will have already received $200,704 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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