Former state school employee Berkshire paid in $262K to teachers' pension fund, could collect $5.29M in retirement

By Local Labs News Service

Jul 1, 2018

Former state school employee Jacqueline Berkshire, who retired in June 2018, saved $262,294 toward a pension over 36 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Berkshire would collect as much as $5.29 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Berkshire received $111,291 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Berkshire will have already received $343,990 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

Lake Forest Community High School District 115

!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