Former state school employee Tennenbaum paid in $233K to teachers' pension fund, could collect $5.62M in retirement

By Local Labs News Service

Jul 1, 2018

Former state school employee Joann Tennenbaum, who retired in June 2018, saved $232,503 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, Tennenbaum would collect as much as $5.62 million, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Tennenbaum received $118,205 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Tennenbaum will have already received $239,956 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Sunset Ridge School District 29 Board

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