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Will County Gazette

Monday, November 25, 2024

Former state school employee Tomal paid in $36K to teachers' pension fund, could collect $391K in retirement

Money 05

Former state school employee Helena Tomal, who retired in August 2016, saved $35,608 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, Tomal would collect as much as $391,178, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Tomal received $8,222 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 5 years of retirement, Tomal will have already received $43,654 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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