Former state school employee Casleton paid in $113K to teachers' pension fund, could collect $2.35M in retirement

By Local Labs News Service

Jun 1, 2016

Former state school employee Debra Casleton, who retired in May 2016, saved $113,240 toward a pension over 32 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Casleton would collect as much as $2.35 million, according to a projection by Local Government Information Services (LGIS), which publishes Southern Illinois News.

The projection assumes Casleton received $49,473 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Casleton will have already received $152,916 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Cobden Unit District 17

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