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West Cook News

Friday, April 26, 2024

Former state school employee Adamic paid in $247K to teachers' pension fund, could collect $4.75M in retirement

Money041

Former state school employee Donna Adamic, who retired in September 2017, saved $247,258 toward a pension over 27 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Adamic would collect as much as $4.75 million, according to a projection by Local Government Information Services (LGIS), which publishes West Cook News.

The projection assumes Adamic received $99,772 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Adamic will have already received $308,385 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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