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North Cook News

Friday, April 19, 2024

Former state school employee Vanartsdalen paid in $171K to teachers' pension fund, could collect $4.54M in retirement

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Former state school employee Joan Vanartsdalen, who retired in June 2016, saved $171,001 toward a pension over 36 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Vanartsdalen would collect as much as $4.54 million, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Vanartsdalen received $95,323 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Vanartsdalen will have already received $193,506 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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