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North Cook News

Friday, April 19, 2024

Former state school employee Zaransky paid in $12K to teachers' pension fund, could collect $350K in retirement

Money 03

Former state school employee Sherrine Zaransky, who retired in June 2017, saved $12,242 toward a pension over 10 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Zaransky would collect as much as $349,816, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Zaransky received $7,352 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Zaransky will have already received $14,925 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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