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North Cook News

Tuesday, April 16, 2024

Former state school employee Rogers paid in $189K to teachers' pension fund, could collect $3.91M in retirement

Money759

Former state school employee Suzanne Rogers, who retired in June 2016, saved $188,701 toward a pension over 39 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Rogers would collect as much as $3.91 million, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Rogers received $82,083 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Rogers will have already received $253,709 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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