Dupage Policy Journal

Dupage Policy Journal

Wednesday, December 11, 2019

Former state school employee Parquette paid in $112K to teachers' pension fund, could collect $2.17M in retirement

Schools

By Local Labs News Service | Jul 1, 2017

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Former state school employee Rebecca Parquette, who retired in June 2017, saved $111,536 toward a pension over 25 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Parquette would collect as much as $2.17 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Parquette received $45,619 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Parquette will have already received $141,005 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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