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West Central Reporter

Tuesday, April 23, 2024

Former state school employee Wort paid in $99K to teachers' pension fund, could collect $1.75M in retirement

Money 04

Former state school employee Darcey Wort, who retired in May 2018, saved $98,570 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, Wort would collect as much as $1.75 million, according to a projection by Local Government Information Services (LGIS), which publishes West Central Reporter.

The projection assumes Wort received $36,724 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Wort will have already received $113,511 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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