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Sangamon Sun

Friday, April 26, 2024

Former state school employee Mathe paid in $102K to teachers' pension fund, could collect $1.98M in retirement

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Former state school employee Judyth Mathe, who retired in June 2017, saved $102,425 toward a pension over 25 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Mathe would collect as much as $1.98 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Mathe received $41,678 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Mathe will have already received $128,822 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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