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Dupage Policy Journal

Thursday, April 18, 2024

Former state school employee Kasik paid in $70K to teachers' pension fund, could collect $1.59M in retirement

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Former state school employee Mary Ellen Kasik, who retired in June 2016, saved $69,581 toward a pension over 23 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Kasik would collect as much as $1.59 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Kasik received $33,491 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Kasik will have already received $103,518 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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