Dupage Policy Journal

Dupage Policy Journal

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Former state school employee Fahey paid in $150K to teachers' pension fund, could collect $2.48M in retirement


By Local Labs News Service | Jun 1, 2018

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Former state school employee Jane Fahey, who retired in May 2018, saved $149,819 toward a pension over 21 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Fahey would collect as much as $2.48 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Fahey received $52,135 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Fahey will have already received $161,144 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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