North Cook News

North Cook News

Monday, January 27, 2020

Former state school employee Cohen paid in $154K to teachers' pension fund, could collect $3.1M in retirement


By Local Labs News Service | Jul 1, 2016

Shutterstock 443523112

Former state school employee Beth Cohen, who retired in June 2016, saved $154,086 toward a pension over 28 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Cohen would collect as much as $3.1 million, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Cohen received $65,086 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Cohen will have already received $201,175 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

Want to get notified whenever we write about River Trails School District 26 ?

Sign-up Next time we write about River Trails School District 26, we'll email you a link to the story. You may edit your settings or unsubscribe at any time.

Organizations in this Story

River Trails School District 26

More News