West Cook News

West Cook News

Sunday, October 20, 2019

Former state school employee Rost paid in $126K to teachers' pension fund, could collect $2.43M in retirement

Schools

By West Cook News | Jun 1, 2018


Former state school employee Timothy Rost, who retired in May 2018, saved $126,097 toward a pension over 26 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Rost would collect as much as $2.43 million, according to a projection by Local Government Information Services (LGIS), which publishes West Cook News.

The projection assumes Rost received $51,053 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Rost will have already received $157,801 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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