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Dupage Policy Journal

Friday, April 19, 2024

Former state school employee Root paid in $173K to teachers' pension fund, could collect $3.14M in retirement

Money272

Former state school employee Claudia Root, who retired in June 2016, saved $172,720 toward a pension over 28 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Root would collect as much as $3.14 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Root received $65,911 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Root will have already received $203,724 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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