Former state school employee Mark paid in $99K to teachers' pension fund, could collect $1.65M in retirement

By Local Labs News Service

Jul 1, 2018

Former state school employee Marsha Mark, who retired in June 2018, saved $99,016 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, Mark would collect as much as $1.65 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Mark received $34,591 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Mark will have already received $106,918 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Waukegan Community Unit School District 60

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