Former state school employee Locascio paid in $15K to teachers' pension fund, could collect $317K in retirement

By Local Labs News Service

Sep 1, 2017

Former state school employee Jane Locascio, who retired in August 2017, saved $15,325 toward a pension over 2 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Locascio would collect as much as $317,394, according to a projection by Local Government Information Services (LGIS), which publishes Southern Illinois News.

The projection assumes Locascio received $6,671 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Locascio will have already received $20,619 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

Teachers' Retirement System of the State of Illinois

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