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North Cook News

Thursday, April 25, 2024

Northbrook SD 28 Lynk paid in $3K to teachers pension fund, could collect $200K in retirement

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Retired Northbrook SD 28 employee Mary Lynk saved $2,850 toward her pension over 13 years working for public schools, Illinois Teachers' Retirement Fund (TRS) records show.

Over 35 years of retirement, Lynk would collect as much as $208,000, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

Lynk, 60, who currently lives in Northbrook earned $15,914 in her final year at Northbrook SD 28.

The projection assumes Lynk will receive 20.2 percent of that total - $3,220 - in her first year of retirement, then 3 percent annual increases thereafter, compounded.

After three years of retirement, Lynk will have already received $9,952 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), 59.6 percent of Northbrook SD 28 students met or exceeded the standards for the "PARCC" exams.

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