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DeKalb Times

Friday, November 22, 2024

Former state school employee Sauser paid in $53K to teachers' pension fund, could collect $1.42M in retirement

Money 07

Former state school employee Peggy Sauser, who retired in September 2016, saved $52,780 toward a pension over 20 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Sauser would collect as much as $1.42 million, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Sauser received $29,853 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Sauser will have already received $60,602 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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