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West Cook News

Monday, November 25, 2024

Former state school employee Susek paid in $200K to teachers' pension fund, could collect $3.61M in retirement

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Former state school employee Jacqueline Susek, who retired in May 2017, saved $200,158 toward a pension over 34 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Susek would collect as much as $3.61 million, according to a projection by Local Government Information Services (LGIS), which publishes West Cook News.

The projection assumes Susek received $75,843 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Susek will have already received $234,423 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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