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South Cook News

Saturday, December 28, 2024

Former state school employee Call paid in $158K to teachers' pension fund, could collect $3.36M in retirement

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Former state school employee Kathryn Call, who retired in June 2016, saved $157,976 toward a pension over 35 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Call would collect as much as $3.36 million, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Call received $70,670 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Call will have already received $218,434 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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