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Dupage Policy Journal

Wednesday, April 24, 2024

Former state school employee Marek paid in $133K to teachers' pension fund, could collect $2.88M in retirement

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Former state school employee Carol Marek, who retired in June 2016, saved $133,355 toward a pension over 28 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Marek would collect as much as $2.88 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Marek received $60,540 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Marek will have already received $187,123 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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