Former state school employee Solyom paid in $90K to teachers' pension fund, could collect $2M in retirement

By Local Labs News Service

Jul 1, 2016

Former state school employee Duane Solyom, who retired in June 2016, saved $90,386 toward a pension over 25 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Solyom would collect as much as $2 million, according to a projection by Local Government Information Services (LGIS), which publishes Kane County Reporter.

The projection assumes Solyom received $42,135 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Solyom will have already received $130,235 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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East Aurora School District 131

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