South Cook News

South Cook News

Wednesday, February 19, 2020

Former state school employee Casas paid in $122K to teachers' pension fund, could collect $2.23M in retirement


By Local Labs News Service | Jun 1, 2016

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Former state school employee Connie Casas, who retired in May 2016, saved $121,824 toward a pension over 18 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Casas would collect as much as $2.23 million, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Casas received $46,857 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Casas will have already received $144,831 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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