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Former state school employee Wapole paid in $4K to teachers' pension fund, could collect $159K in retirement

Schools

By Local Labs News Service | Apr 1, 2017

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Former state school employee Laura Wapole, who retired in March 2017, saved $3,580 toward a pension over 2 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Wapole would collect as much as $159,322, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Wapole received $3,348 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Wapole will have already received $6,796 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Elgin Area School District U46 (merged)

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