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Quincy Reporter

Thursday, October 31, 2024

Former state school employee Troup paid in $120K to teachers' pension fund, could collect $2.48M in retirement

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Former state school employee Sharon Troup, who retired in May 2016, saved $120,269 toward a pension over 37 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Troup would collect as much as $2.48 million, according to a projection by Local Government Information Services (LGIS), which publishes Quincy Reporter.

The projection assumes Troup received $52,181 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Troup will have already received $161,285 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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