Quantcast

Dupage Policy Journal

Tuesday, April 23, 2024

Former state school employee Behrend paid in $179K to teachers' pension fund, could collect $2.78M in retirement

Shutterstock 262120544

Former state school employee Catherine Behrend, who retired in June 2017, saved $179,273 toward a pension over 33 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Behrend would collect as much as $2.78 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Behrend received $58,446 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Behrend will have already received $180,650 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

MORE NEWS