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North Cook News

Monday, November 25, 2024

Community CSD 59 Ostrowski paid in $9K to teachers pension fund, could collect $300k in retirement

Money 07

Retired Community CSD 59 employee Marianne Ostrowski saved $9,187 toward her pension over 19 years working for public schools, Illinois Teachers' Retirement Fund (TRS) records show.

Over 33 years of retirement, Ostrowski would collect as much as $309,000, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

Ostrowski, 62, who currently lives in Elk Grove Village, earned $4,080 in her final year at Community CSD 59.

The projection assumes Ostrowski will receive $5,217 in her first year of retirement, then 3 percent annual increases thereafter, compounded.

After three years of retirement, Ostrowski will have already received $16,126 in retirement benefits, or more than the sum total of her contributions to the state teachers' pension fund.

According to the Illinois State Board of Education (ISBE), 26.8 percent of Community CSD 59 students met or exceeded the standards for the "PARCC" exams.

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