Quantcast

North Cook News

Friday, May 2, 2025

Former state school employee Ross paid in $4K to teachers' pension fund, could collect $67K in retirement

Shutterstock 469426916

Former state school employee Gretchen Ross, who retired in June 2017, saved $3,561 toward a pension over 1 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Ross would collect as much as $67,035, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Ross received $1,409 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Ross will have already received $4,355 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

MORE NEWS