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Kane County Reporter

Thursday, November 28, 2024

Former state school employee Sefton paid in $61K to teachers' pension fund, could collect $1.11M in retirement

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Former state school employee Cynthia Sefton, who retired in September 2017, saved $60,929 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, Sefton would collect as much as $1.11 million, according to a projection by Local Government Information Services (LGIS), which publishes Kane County Reporter.

The projection assumes Sefton received $23,320 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Sefton will have already received $72,081 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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