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McLean County Times

Saturday, November 23, 2024

Former state school employee Bartlett paid in $68K to teachers' pension fund, could collect $1.22M in retirement

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Former state school employee Wendy Bartlett, who retired in June 2017, saved $68,194 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, Bartlett would collect as much as $1.22 million, according to a projection by Local Government Information Services (LGIS), which publishes McLean County Times.

The projection assumes Bartlett received $25,591 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Bartlett will have already received $79,100 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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