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West Cook News

Saturday, April 20, 2024

Former state school employee Oreilly paid in $191K to teachers' pension fund, could collect $4.34M in retirement

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Former state school employee Tamara Oreilly, who retired in June 2018, saved $191,123 toward a pension over 35 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Oreilly would collect as much as $4.34 million, according to a projection by Local Government Information Services (LGIS), which publishes West Cook News.

The projection assumes Oreilly received $91,290 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Oreilly will have already received $282,169 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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