South Cook News

South Cook News

Wednesday, February 26, 2020

Former state school employee Carr paid in $207K to teachers' pension fund, could collect $4.26M in retirement


By Local Labs News Service | Jun 1, 2018

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Former state school employee Judy Carr, who retired in May 2018, saved $207,066 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, Carr would collect as much as $4.26 million, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Carr received $89,615 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Carr will have already received $276,990 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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