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Will County Gazette

Saturday, November 23, 2024

Former state school employee Slingerland paid in $143K to teachers' pension fund, could collect $1.92M in retirement

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Former state school employee Mary Slingerland, who retired in June 2016, saved $142,957 toward a pension over 22 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Slingerland would collect as much as $1.92 million, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Slingerland received $40,397 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Slingerland will have already received $169,006 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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