Valley View CUSD 365 Fisher paid in $77K to teachers pension fund, could collect $1.5 million in retirement
Retired Valley View CUSD 365 employee Marlene Fisher saved $76,522 toward her pension over 13 years working for public schools, Illinois Teachers' Retirement Fund (TRS) records show.
Over 35 years of retirement, Fisher would collect as much as $1.452 million, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.
Fisher, 60, who currently lives in Bolingbrook, earned $75,809 in her final year at Valley View CUSD 365.
The projection assumes Fisher will receive 29.7 percent of that total - $22,509 - in her first year of retirement, then 3 percent annual increases thereafter, compounded.
After three years of retirement, Fisher will have already received $69,573 in retirement benefits, or more than the sum total of her contributions to the state teachers' pension fund.
According to the Illinois State Board of Education (ISBE), 34.6 percent of Valley View CUSD 365 students met or exceeded the standards for the "PARCC" exams. ISBE reported that 40.3 percent of district's graduates were deemed "college ready" last year.