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North Cook News

Saturday, April 20, 2024

Former state school employee Goldberg paid in $171K to teachers' pension fund, could collect $3.18M in retirement

Money272

Former state school employee Paula Goldberg, who retired in June 2017, saved $170,766 toward a pension over 37 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Goldberg would collect as much as $3.18 million, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Goldberg received $66,855 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Goldberg will have already received $206,643 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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