North Cook News

North Cook News

Thursday, January 23, 2020

Former state school employee Egofske paid in $202K to teachers' pension fund, could collect $4.91M in retirement


By Local Labs News Service | Jul 1, 2016

Shutterstock 443523118

Former state school employee Barbara Egofske, who retired in June 2016, saved $202,199 toward a pension over 36 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Egofske would collect as much as $4.91 million, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Egofske received $103,143 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Egofske will have already received $209,380 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 Sunset Ridge School District 29 ?

Sign-up Next time we write about Sunset Ridge School District 29, we'll email you a link to the story. You may edit your settings or unsubscribe at any time.

Organizations in this Story

Sunset Ridge School District 29

More News