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West Cook News

Saturday, April 20, 2024

Former state school employee Ross paid in $17K to teachers' pension fund, could collect $302K in retirement

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Former state school employee Sandi Ross, who retired in June 2017, saved $16,706 toward a pension over 12 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Ross would collect as much as $301,614, according to a projection by Local Government Information Services (LGIS), which publishes West Cook News.

The projection assumes Ross received $6,339 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Ross will have already received $19,593 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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