Former state school employee Shirmang paid in $40K to teachers' pension fund, could collect $1.09M in retirement

By Local Labs News Service

Feb 1, 2018

Former state school employee Carol Shirmang, who retired in January 2018, saved $39,806 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, Shirmang would collect as much as $1.09 million, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Shirmang received $22,814 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Shirmang will have already received $46,312 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Prospect Heights School District 23

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