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Dupage Policy Journal

Monday, November 25, 2024

Former state school employee Bagger paid in $21K to teachers' pension fund, could collect $238K in retirement

Money 07

Former state school employee Deborah Bagger, who retired in May 2017, saved $20,880 toward a pension over 11 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Bagger would collect as much as $237,844, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Bagger received $4,999 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Bagger will have already received $20,913 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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