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West Cook News

Friday, July 4, 2025

Former state school employee Woon paid in $54K to teachers' pension fund, could collect $703K in retirement

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Former state school employee Laura Woon, who retired in June 2018, saved $53,952 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, Woon would collect as much as $702,835, according to a projection by Local Government Information Services (LGIS), which publishes West Cook News.

The projection assumes Woon received $14,773 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Woon will have already received $61,803 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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