Quantcast

Dupage Policy Journal

Saturday, April 20, 2024

Former state school employee Petrosius paid in $16K to teachers' pension fund, could collect $212K in retirement

Money836

Former state school employee Robin Petrosius, who retired in May 2018, saved $15,582 toward a pension over 10 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Petrosius would collect as much as $212,348, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Petrosius received $4,463 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Petrosius will have already received $18,672 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

MORE NEWS