Dupage Policy Journal

Dupage Policy Journal

Thursday, February 20, 2020

Former state school employee Weerts paid in $18K to teachers' pension fund, could collect $334K in retirement


By Local Labs News Service | Jan 1, 2017

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Former state school employee Gail Weerts, who retired in December 2016, saved $18,330 toward a pension over 5 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Weerts would collect as much as $333,585, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Weerts received $7,011 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Weerts will have already received $21,670 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Winfield School District 34

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