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McLean County Times

Monday, December 23, 2024

Former state school employee Heustis paid in $2K to teachers' pension fund, could collect $63K in retirement

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Former state school employee Marsha Heustis, who retired in July 2017, saved $2,396 toward a pension over 1 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Heustis would collect as much as $62,502, according to a projection by Local Government Information Services (LGIS), which publishes McLean County Times.

The projection assumes Heustis received $1,313 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Heustis will have already received $2,665 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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