Dupage Policy Journal

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Wednesday, November 20, 2019

Former state school employee Baker paid in $178K to teachers' pension fund, could collect $4.54M in retirement

Schools

By Local Labs News Service | Aug 1, 2017

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Former state school employee Cathy Baker, who retired in July 2017, saved $177,965 toward a pension over 29 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Baker would collect as much as $4.54 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Baker received $95,480 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Baker will have already received $193,824 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Elmhurst Community Unit School District 205

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