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South Cook News

Wednesday, April 24, 2024

Former state school employee Barth paid in $44K to teachers' pension fund, could collect $537K in retirement

Money041

Former state school employee Julie Barth, who retired in January 2017, saved $43,703 toward a pension over 14 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Barth would collect as much as $537,084, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Barth received $11,289 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Barth will have already received $47,230 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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