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Lake County Gazette

Tuesday, April 16, 2024

Former state school employee Antoni paid in $101K to teachers' pension fund, could collect $1.13M in retirement

Money 04

Former state school employee Mary Antoni, who retired in June 2018, saved $101,134 toward a pension over 16 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Antoni would collect as much as $1.13 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Antoni received $23,720 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 5 years of retirement, Antoni will have already received $125,935 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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