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West Cook News

Saturday, November 23, 2024

Former state school employee Bartoz paid in $38K to teachers' pension fund, could collect $437K in retirement

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Former state school employee Joanel Bartoz, who retired in May 2016, saved $37,859 toward a pension over 7 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Bartoz would collect as much as $437,210, according to a projection by Local Government Information Services (LGIS), which publishes West Cook News.

The projection assumes Bartoz received $9,189 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Bartoz will have already received $38,444 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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