Former state school employee Morton paid in $187K to teachers' pension fund, could collect $3.85M in retirement

By Rock Island Today Reports

Jul 1, 2018

Former state school employee Ronald Morton, who retired in June 2018, saved $187,188 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, Morton would collect as much as $3.85 million, according to a projection by Local Government Information Services (LGIS), which publishes Rock Island Today.

The projection assumes Morton received $80,881 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Morton will have already received $249,994 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Moline Coal Valley Community Unit School District 40

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