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Wednesday, November 13, 2019

Former state school employee Syverson paid in $170K to teachers' pension fund, could collect $3.75M in retirement

Schools

By Local Labs News Service | Jul 1, 2016

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Former state school employee Janette Syverson, who retired in June 2016, saved $169,711 toward a pension over 30 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Syverson would collect as much as $3.75 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Syverson received $78,769 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Syverson will have already received $243,467 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Downers Grove Grade School District 58

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