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North Cook News

Friday, November 22, 2024

Former state school employee Mohr paid in $1K to teachers' pension fund, could collect $68K in retirement

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Former state school employee Sarah Mohr, who retired in November 2016, saved $1,005 toward a pension over 1 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Mohr would collect as much as $68,086, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Mohr received $1,431 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Mohr will have already received $1,431 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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