Lake County Gazette

Lake County Gazette

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Former state school employee Jasper paid in $101K to teachers' pension fund, could collect $2.72M in retirement


By Local Labs News Service | Jul 1, 2016

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Former state school employee Jacqueline Jasper, who retired in June 2016, saved $101,116 toward a pension over 30 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Jasper would collect as much as $2.72 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Jasper received $57,151 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Jasper will have already received $116,017 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Waukegan Community Unit School District 60

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