Former state school employee Ernst paid in $13K to teachers' pension fund, could collect $568K in retirement

By Local Labs News Service

Mar 1, 2016

Former state school employee Ellen Ernst, who retired in February 2016, saved $12,557 toward a pension over 5 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Ernst would collect as much as $568,198, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Ernst received $11,943 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Ernst will have already received $24,244 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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West Northfield School District 31 Board

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