Former state school employee O'Connor paid in $127K to teachers' pension fund, could collect $3.17M in retirement

By Local Labs News Service

Jul 1, 2016

Former state school employee Rosemary O'Connor, who retired in June 2016, saved $127,059 toward a pension over 28 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, O'Connor would collect as much as $3.17 million, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes O'Connor received $66,620 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, O'Connor will have already received $135,239 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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South Will Cnty Coop Spec Ed

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