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Dupage Policy Journal

Tuesday, April 23, 2024

Former state school employee Bissett paid in $3K to teachers' pension fund, could collect $247K in retirement

Money 08

Former state school employee Donna Bissett, who retired in May 2018, saved $3,328 toward a pension over 5 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Bissett would collect as much as $246,773, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Bissett received $5,187 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Bissett will have already received $5,187 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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