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North Cook News

Sunday, June 8, 2025

Former state school employee Ebstein paid in $127K to teachers' pension fund, could collect $2.07M in retirement

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Former state school employee Michael Ebstein, who retired in June 2017, saved $127,498 toward a pension over 19 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Ebstein would collect as much as $2.07 million, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Ebstein received $43,486 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Ebstein will have already received $134,412 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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