Quantcast

North Cook News

Saturday, June 21, 2025

Former state school employee Such paid in $86K to teachers' pension fund, could collect $1.21M in retirement

Money 07

Former state school employee Janice Such, who retired in June 2017, saved $85,686 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, Such would collect as much as $1.21 million, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Such received $25,434 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Such will have already received $106,406 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

MORE NEWS