Former state school employee Baldwin paid in $173K to teachers' pension fund, could collect $4.16M in retirement

By Local Labs News Service

Jul 1, 2016

Former state school employee Mary Baldwin, who retired in June 2016, saved $172,703 toward a pension over 31 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Baldwin would collect as much as $4.16 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Baldwin received $87,338 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Baldwin will have already received $177,296 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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North Shore School District 112

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