Former state school employee Bertrand paid in $300K to teachers' pension fund, could collect $7.64M in retirement

By Local Labs News Service

Jul 1, 2018

Former state school employee Tom Bertrand, who retired in June 2018, saved $300,120 toward a pension over 34 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Bertrand would collect as much as $7.64 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Bertrand received $160,497 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Bertrand will have already received $325,809 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Rochester Community Unit School District 3a

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