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Will County Gazette

Monday, November 25, 2024

Former state school employee Walsh paid in $167K to teachers' pension fund, could collect $3.5M in retirement

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Former state school employee Susan Walsh, who retired in May 2016, saved $166,774 toward a pension over 38 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Walsh would collect as much as $3.5 million, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Walsh received $73,554 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Walsh will have already received $227,349 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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