Dupage Policy Journal

Dupage Policy Journal

Wednesday, November 20, 2019

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


By Local Labs News Service | Aug 1, 2017

Shutterstock 443523118

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.

Want to get notified whenever we write about Elmhurst Community Unit School District 205 ?

Sign-up Next time we write about Elmhurst Community Unit School District 205, we'll email you a link to the story. You may edit your settings or unsubscribe at any time.

Organizations in this Story

Elmhurst Community Unit School District 205

More News