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South Cook News

Tuesday, April 23, 2024

Former state school employee Bieganowski paid in $13K to teachers' pension fund, could collect $724K in retirement

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Former state school employee Marie Bieganowski, who retired in July 2018, saved $13,039 toward a pension over 9 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Bieganowski would collect as much as $723,810, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Bieganowski received $15,213 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Bieganowski will have already received $15,213 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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