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Illinois Valley Times

Saturday, November 23, 2024

Former state school employee Ajster paid in $113K to teachers' pension fund, could collect $2.5M in retirement

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Former state school employee Kim Ajster, who retired in June 2016, saved $113,198 toward a pension over 35 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Ajster would collect as much as $2.5 million, according to a projection by Local Government Information Services (LGIS), which publishes Illinois Valley Times.

The projection assumes Ajster received $52,571 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Ajster will have already received $162,491 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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