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West Cook News

Tuesday, May 13, 2025

Former state school employee Anders paid in $83K to teachers' pension fund, could collect $1.53M in retirement

Money 01

Former state school employee Michele Anders, who retired in June 2017, saved $82,975 toward a pension over 20 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Anders would collect as much as $1.53 million, according to a projection by Local Government Information Services (LGIS), which publishes West Cook News.

The projection assumes Anders received $32,232 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Anders will have already received $99,626 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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