Dupage Policy Journal

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Tuesday, November 12, 2019

Former state school employee Lopez paid in $83K to teachers' pension fund, could collect $1.45M in retirement

Schools

By Local Labs News Service | Jul 1, 2016

Money 02

Former state school employee Sheri Lopez, who retired in June 2016, saved $83,167 toward a pension over 20 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Lopez would collect as much as $1.45 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Lopez received $30,439 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Lopez will have already received $94,084 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Downers Grove Grade School District 58

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