Former state school employee O'Connor paid in $191K to teachers' pension fund, could collect $4.64M in retirement

By Local Labs News Service

Jul 1, 2016

Former state school employee Alayne O'Connor, who retired in June 2016, saved $190,680 toward a pension over 35 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, O'Connor would collect as much as $4.64 million, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes O'Connor received $97,621 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, O'Connor will have already received $198,171 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Northbrook Elementary School District 27

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