Former state school employee Newmark paid in $73K to teachers' pension fund, could collect $1.11M in retirement

By Local Labs News Service

Jul 1, 2017

Former state school employee Judith Newmark, who retired in June 2017, saved $72,830 toward a pension over 14 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Newmark would collect as much as $1.11 million, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Newmark received $23,424 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Newmark will have already received $97,999 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Glenview Community Consolidated School District 34 Board

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