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Kane County Reporter

Tuesday, November 26, 2024

Former state school employee Ciway paid in $124K to teachers' pension fund, could collect $1.89M in retirement

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Former state school employee Pamela Ciway, who retired in May 2016, saved $124,151 toward a pension over 20 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Ciway would collect as much as $1.89 million, according to a projection by Local Government Information Services (LGIS), which publishes Kane County Reporter.

The projection assumes Ciway received $39,801 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Ciway will have already received $166,513 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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