Prairie State Wire

Prairie State Wire

Tuesday, December 10, 2019

Former state school employee Locascio paid in $15K to teachers' pension fund, could collect $317K in retirement

Schools

By Local Labs News Service | Sep 1, 2017

Money759

Former state school employee Jane Locascio, who retired in August 2017, saved $15,325 toward a pension over 2 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Locascio would collect as much as $317,394, according to a projection by Local Government Information Services (LGIS), which publishes Prairie State Wire.

The projection assumes Locascio received $6,671 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Locascio will have already received $20,619 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Teachers' Retirement System of the State of Illinois

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