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West Cook News

Saturday, July 5, 2025

Former state school employee Boutov paid in $159K to teachers' pension fund, could collect $2.89M in retirement

Money272

Former state school employee Olga Boutov, who retired in June 2018, saved $158,951 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, Boutov would collect as much as $2.89 million, according to a projection by Local Government Information Services (LGIS), which publishes West Cook News.

The projection assumes Boutov received $60,770 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Boutov will have already received $187,834 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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