Former state school employee Ostrowski paid in $62K to teachers' pension fund, could collect $1.07M in retirement

By Local Labs News Service

Mar 1, 2018

Former state school employee Janet Ostrowski, who retired in February 2018, saved $61,903 toward a pension over 13 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Ostrowski would collect as much as $1.07 million, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Ostrowski received $22,505 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Ostrowski will have already received $69,560 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Morton Grove School District 70

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