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East Central Reporter

Saturday, November 23, 2024

Former state school employee Girten paid in $53K to teachers' pension fund, could collect $1.88M in retirement

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Former state school employee Jeanette Girten, who retired in February 2016, saved $53,337 toward a pension over 28 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Girten would collect as much as $1.88 million, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Girten received $39,484 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Girten will have already received $80,153 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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