Quantcast

North Cook News

Saturday, November 23, 2024

Former state school employee Baehr paid in $44K to teachers' pension fund, could collect $832K in retirement

Shutterstock 267646277

Former state school employee Barbara Baehr, who retired in July 2016, saved $43,833 toward a pension over 12 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Baehr would collect as much as $831,694, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Baehr received $17,481 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Baehr will have already received $54,031 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.
Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.
Donate

MORE NEWS