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North Cook News

Monday, May 20, 2024

Former state school employee Clenard paid in $177K to teachers' pension fund, could collect $4.41M in retirement

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Former state school employee Cynthia Clenard, who retired in June 2016, saved $176,840 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, Clenard would collect as much as $4.41 million, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Clenard received $92,633 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Clenard will have already received $188,045 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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