Former state school employee Otmaskin paid in $10K to teachers' pension fund, could collect $635K in retirement

By Local Labs News Service

Jan 1, 2019

Former state school employee Marlies Otmaskin, who retired in December 2018, saved $10,205 toward a pension over 7 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Otmaskin would collect as much as $634,669, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Otmaskin received $13,340 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Otmaskin will have already received $13,340 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Lincolnshire Prairie View School District 103

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