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Dupage Policy Journal

Saturday, April 20, 2024

Former state school employee Pratapas paid in $47K to teachers' pension fund, could collect $678K in retirement

Money 05

Former state school employee Patricia Pratapas, who retired in May 2018, saved $47,330 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, Pratapas would collect as much as $678,200, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Pratapas received $14,255 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Pratapas will have already received $59,638 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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