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North Cook News

Friday, November 22, 2024

Former state school employee Nadulek paid in $24K to teachers' pension fund, could collect $477K in retirement

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Former state school employee Marilyn Nadulek, who retired in February 2016, saved $23,508 toward a pension over 6 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Nadulek would collect as much as $476,734, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Nadulek received $10,020 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Nadulek will have already received $30,972 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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