Dupage Policy Journal

Dupage Policy Journal

Friday, December 6, 2019

Former state school employee Beck paid in $69K to teachers' pension fund, could collect $1.01M in retirement


By Local Labs News Service | Jun 1, 2018

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Former state school employee Annjo Beck, who retired in May 2018, saved $69,474 toward a pension over 15 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Beck would collect as much as $1.01 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Beck received $21,170 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Beck will have already received $88,567 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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