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Dupage Policy Journal

Friday, April 18, 2025

Former state school employee Barrett paid in $180K to teachers' pension fund, could collect $4.05M in retirement

Money 06

Former state school employee Joyce Barrett, who retired in May 2018, saved $180,353 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, Barrett would collect as much as $4.05 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Barrett received $85,079 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Barrett will have already received $262,970 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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