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North Egypt News

Thursday, November 21, 2024

Former state school employee Trone paid in $157K to teachers' pension fund, could collect $3.94M in retirement

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Former state school employee Melanie Trone, who retired in July 2017, saved $157,430 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, Trone would collect as much as $3.94 million, according to a projection by Local Government Information Services (LGIS), which publishes North Egypt News.

The projection assumes Trone received $82,774 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Trone will have already received $168,031 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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