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North Cook News

Saturday, November 23, 2024

Former state school employee Zelmar paid in $9K to teachers' pension fund, could collect $142K in retirement

Money 06

Former state school employee Susanne Zelmar, who retired in July 2016, saved $8,567 toward a pension over 5 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Zelmar would collect as much as $142,280, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Zelmar received $2,990 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Zelmar will have already received $9,242 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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