Former state school employee Quivey paid in $154K to teachers' pension fund, could collect $3.66M in retirement

By South West Illinois News Reports

Oct 1, 2017

Former state school employee Mary Quivey, who retired in September 2017, saved $154,276 toward a pension over 35 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Quivey would collect as much as $3.66 million, according to a projection by Local Government Information Services (LGIS), which publishes SW Illinois News.

The projection assumes Quivey received $76,872 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Quivey will have already received $156,050 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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