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North Cook News

Friday, April 19, 2024

Former state school employee Froehlich paid in $109K to teachers' pension fund, could collect $2.85M in retirement

Money 06

Former state school employee Sharon Froehlich, who retired in June 2016, saved $109,077 toward a pension over 32 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Froehlich would collect as much as $2.85 million, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Froehlich received $59,821 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Froehlich will have already received $121,437 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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