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East Central Reporter

Friday, April 19, 2024

Former state school employee Cler paid in $80K to teachers' pension fund, could collect $1.11M in retirement

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Former state school employee Barbara Cler, who retired in December 2017, saved $80,072 toward a pension over 23 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Cler would collect as much as $1.11 million, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Cler received $23,436 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Cler will have already received $98,047 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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