Former state school employee Bertsch paid in $62K to teachers' pension fund, could collect $1.11M in retirement

By Local Labs News Service

Nov 1, 2017

Former state school employee Cherie Bertsch, who retired in October 2017, saved $62,111 toward a pension over 16 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Bertsch would collect as much as $1.11 million, according to a projection by Local Government Information Services (LGIS), which publishes NW Illinois News.

The projection assumes Bertsch received $23,377 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Bertsch will have already received $72,255 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

Meridian Community Unit School District 223

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.

Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.

Donate