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DeKalb Times

Sunday, November 17, 2024

Former state school employee Mascal paid in $167K to teachers' pension fund, could collect $2.65M in retirement

Money 02

Former state school employee Rebecca Mascal, who retired in June 2018, saved $166,597 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, Mascal would collect as much as $2.65 million, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Mascal received $55,790 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Mascal will have already received $172,442 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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