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Carbondale Reporter

Saturday, May 18, 2024

Former state school employee Mast paid in $41K to teachers' pension fund, could collect $975K in retirement

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Former state school employee Susan Mast, who retired in March 2016, saved $41,106 toward a pension over 17 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Mast would collect as much as $975,476, according to a projection by Local Government Information Services (LGIS), which publishes Carbondale Reporter.

The projection assumes Mast received $20,503 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Mast will have already received $41,621 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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