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West Cook News

Sunday, November 24, 2024

Former state school employee Nosek paid in $17K to teachers' pension fund, could collect $229K in retirement

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Former state school employee Lynn Nosek, who retired in October 2016, saved $17,319 toward a pension over 10 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Nosek would collect as much as $228,852, according to a projection by Local Government Information Services (LGIS), which publishes West Cook News.

The projection assumes Nosek received $4,810 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Nosek will have already received $20,123 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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