Former state school employee Merlone paid in $20K to teachers' pension fund, could collect $854K in retirement

By West Cook News

Jul 1, 2017

Former state school employee Lynn Merlone, who retired in June 2017, saved $19,967 toward a pension over 9 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Merlone would collect as much as $854,170, according to a projection by Local Government Information Services (LGIS), which publishes West Cook News.

The projection assumes Merlone received $17,954 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Merlone will have already received $36,447 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Berwyn North School District 98

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