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Carbondale Reporter

Saturday, November 23, 2024

Former state school employee Drust paid in $132K to teachers' pension fund, could collect $2.8M in retirement

Money 03

Former state school employee Linda Drust, who retired in January 2017, saved $132,458 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, Drust would collect as much as $2.8 million, according to a projection by Local Government Information Services (LGIS), which publishes Carbondale Reporter.

The projection assumes Drust received $58,861 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Drust will have already received $181,934 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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