Former state school employee Kasper paid in $274K to teachers' pension fund, could collect $5.8M in retirement

By Local Labs News Service

Jul 1, 2016

Former state school employee Timothy Kasper, who retired in June 2016, saved $274,187 toward a pension over 36 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Kasper would collect as much as $5.8 million, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Kasper received $121,966 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Kasper will have already received $376,985 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Palatine School District 211

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