Former state school employee Castle paid in $75K to teachers' pension fund, could collect $1.97M in retirement

By Local Labs News Service

Jul 1, 2017

Former state school employee Jennifer Castle, who retired in June 2017, saved $74,986 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, Castle would collect as much as $1.97 million, according to a projection by Local Government Information Services (LGIS), which publishes NW Illinois News.

The projection assumes Castle received $41,504 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Castle will have already received $84,253 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Freeport School District 145 Board

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