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West Cook News

Monday, April 15, 2024

Former state school employee Ebsen paid in $149K to teachers' pension fund, could collect $3.46M in retirement

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Former state school employee Elizabeth Ebsen, who retired in June 2018, saved $148,901 toward a pension over 23 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Ebsen would collect as much as $3.46 million, according to a projection by Local Government Information Services (LGIS), which publishes West Cook News.

The projection assumes Ebsen received $72,748 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Ebsen will have already received $224,856 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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