Former state school employee Masterson paid in $128K to teachers' pension fund, could collect $2.8M in retirement

By South West Illinois News Reports

Jun 1, 2016

Former state school employee Margaret Masterson, who retired in May 2016, saved $128,068 toward a pension over 35 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Masterson would collect as much as $2.8 million, according to a projection by Local Government Information Services (LGIS), which publishes SW Illinois News.

The projection assumes Masterson received $58,821 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Masterson will have already received $181,811 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Red Bud Community Unit School District 132

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