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West Central Reporter

Thursday, April 25, 2024

Former state school employee O'Connell paid in $3K to teachers' pension fund, could collect $102K in retirement

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Former state school employee Natalie O'Connell, who retired in September 2018, saved $3,282 toward a pension over 4 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, O'Connell would collect as much as $101,689, according to a projection by Local Government Information Services (LGIS), which publishes West Central Reporter.

The projection assumes O'Connell received $2,137 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, O'Connell will have already received $4,338 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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