Former state school employee Menk paid in $8K to teachers' pension fund, could collect $94K in retirement

By Local Labs News Service

Jul 1, 2018

Former state school employee Mary Menk, who retired in June 2018, saved $7,792 toward a pension over 5 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Menk would collect as much as $94,370, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Menk received $1,983 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Menk will have already received $8,294 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Grayslake Consolidated Community School District 46 Board

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