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Dupage Policy Journal

Monday, November 25, 2024

Former state school employee Eiten paid in $25K to teachers' pension fund, could collect $442K in retirement

Money272

Former state school employee Pamela Eiten, who retired in January 2017, saved $25,424 toward a pension over 9 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Eiten would collect as much as $442,131, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Eiten received $9,293 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Eiten will have already received $28,724 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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