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North Cook News

Monday, June 17, 2024

Former state school employee Pilarski paid in $159K to teachers' pension fund, could collect $2.74M in retirement

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Former state school employee Elizabeth Pilarski, who retired in June 2018, saved $159,414 toward a pension over 18 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Pilarski would collect as much as $2.74 million, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Pilarski received $57,532 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Pilarski will have already received $177,826 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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