Quantcast

Galesburg Reporter

Monday, August 4, 2025

Former state school employee Scott paid in $91K to teachers' pension fund, could collect $1.78M in retirement

Money 06

Former state school employee Juanita Scott, who retired in May 2016, saved $90,643 toward a pension over 23 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Scott would collect as much as $1.78 million, according to a projection by Local Government Information Services (LGIS), which publishes Galesburg Reporter.

The projection assumes Scott received $37,509 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Scott will have already received $115,936 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

MORE NEWS