Former state school employee Condon paid in $39K to teachers' pension fund, could collect $753K in retirement

By West Cook News

Jun 1, 2018

Former state school employee Laurie Condon, who retired in May 2018, saved $38,796 toward a pension over 13 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Condon would collect as much as $752,869, according to a projection by Local Government Information Services (LGIS), which publishes West Cook News.

The projection assumes Condon received $15,824 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Condon will have already received $48,911 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

Berwyn South School District 100 Board

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.

Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.

Donate