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North Cook News

Monday, June 17, 2024

Former state school employee Jahrling paid in $232K to teachers' pension fund, could collect $4.79M in retirement

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Former state school employee Mary Jahrling, who retired in June 2018, saved $232,088 toward a pension over 31 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Jahrling would collect as much as $4.79 million, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Jahrling received $100,735 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Jahrling will have already received $311,362 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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