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North Cook News

Monday, April 28, 2025

Former state school employee Bolger paid in $147K to teachers' pension fund, could collect $3.85M in retirement

Money 01

Former state school employee Susan Bolger, who retired in June 2016, saved $147,318 toward a pension over 37 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Bolger would collect as much as $3.85 million, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Bolger received $80,901 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Bolger will have already received $164,229 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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