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Dupage Policy Journal

Thursday, April 18, 2024

Former state school employee Dvorak Mola paid in $202K to teachers' pension fund, could collect $5.04M in retirement

Money 03

Former state school employee Carol Dvorak Mola, who retired in June 2016, saved $202,060 toward a pension over 36 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Dvorak Mola would collect as much as $5.04 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Dvorak Mola received $105,887 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Dvorak Mola will have already received $214,951 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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