Former state school employee Netterstrom paid in $220K to teachers' pension fund, could collect $5.05M in retirement

By Local Labs News Service

Jun 1, 2016

Former state school employee Mavis Netterstrom, who retired in May 2016, saved $219,951 toward a pension over 40 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Netterstrom would collect as much as $5.05 million, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Netterstrom received $106,051 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Netterstrom will have already received $327,794 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Ridgewood Community High School District 234

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