Quantcast

North Cook News

Tuesday, May 6, 2025

Former state school employee Garcia paid in $247K to teachers' pension fund, could collect $4.69M in retirement

Shutterstock 385535740

Former state school employee Linda Garcia, who retired in June 2016, saved $247,244 toward a pension over 34 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Garcia would collect as much as $4.69 million, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Garcia received $98,665 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Garcia will have already received $304,964 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

MORE NEWS