Former state school employee Mall paid in $117K to teachers' pension fund, could collect $2.29M in retirement

By Local Labs News Service

Nov 1, 2016

Former state school employee Maura Mall, who retired in October 2016, saved $116,783 toward a pension over 24 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Mall would collect as much as $2.29 million, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Mall received $48,218 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Mall will have already received $149,038 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Elgin Area School District U46

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