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Will County Gazette

Monday, November 25, 2024

Former state school employee Buck paid in $121K to teachers' pension fund, could collect $1.34M in retirement

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Former state school employee Gina Buck, who retired in May 2016, saved $121,491 toward a pension over 19 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Buck would collect as much as $1.34 million, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Buck received $28,203 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 5 years of retirement, Buck will have already received $149,733 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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