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Dupage Policy Journal

Tuesday, April 23, 2024

Former state school employee Bertane paid in $274K to teachers' pension fund, could collect $5.29M in retirement

Money 08

Former state school employee Mary Bertane, who retired in May 2018, saved $273,739 toward a pension over 35 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Bertane would collect as much as $5.29 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Bertane received $111,281 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Bertane will have already received $343,958 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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