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South Cook News

Tuesday, April 29, 2025

Former state school employee Anderson paid in $7K to teachers' pension fund, could collect $121K in retirement

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Former state school employee Barbara Anderson, who retired in April 2016, saved $6,680 toward a pension over 5 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Anderson would collect as much as $120,769, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Anderson received $2,538 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Anderson will have already received $7,844 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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