Former state school employee Kasik paid in $278K to teachers' pension fund, could collect $6.04M in retirement

Former state school employee Scott Kasik, who retired in July 2016, saved $277,802 toward a pension over 39 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Kasik would collect as much as $6.04 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Kasik received $127,012 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Kasik will have already received $392,581 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.