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North Cook News

Saturday, November 23, 2024

Former state school employee Rodriguez paid in $207K to teachers' pension fund, could collect $4.55M in retirement

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Former state school employee Christine Rodriguez, who retired in June 2018, saved $206,796 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, Rodriguez would collect as much as $4.55 million, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Rodriguez received $95,691 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Rodriguez will have already received $295,772 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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