Former state school employee Whalen paid in $196K to teachers' pension fund, could collect $5.49M in retirement

By Local Labs News Service

Aug 1, 2016

Former state school employee Judith Whalen, who retired in July 2016, saved $195,665 toward a pension over 34 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Whalen would collect as much as $5.49 million, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Whalen received $115,393 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Whalen will have already received $234,248 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Thornton Fractional Township High School District 215

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