Quantcast

South West Illinois News

Thursday, April 18, 2024

Former state school employee Bastien paid in $42K to teachers' pension fund, could collect $567K in retirement

Shutterstock 443523112

Former state school employee Valerie Bastien, who retired in March 2017, saved $41,876 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, Bastien would collect as much as $566,737, according to a projection by Local Government Information Services (LGIS), which publishes SW Illinois News.

The projection assumes Bastien received $11,912 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Bastien will have already received $49,834 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.
Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.
Donate

MORE NEWS