Quantcast

South Central Reporter

Thursday, January 30, 2025

Former state school employee Bitter paid in $82K to teachers' pension fund, could collect $1.53M in retirement

Shutterstock 443523118

Former state school employee Janis Bitter, who retired in May 2016, saved $81,516 toward a pension over 21 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Bitter would collect as much as $1.53 million, according to a projection by Local Government Information Services (LGIS), which publishes South Central Reporter.

The projection assumes Bitter received $32,082 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Bitter will have already received $99,161 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

MORE NEWS