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South Cook News

Sunday, April 20, 2025

Former state school employee Carroll paid in $172K to teachers' pension fund, could collect $3.8M in retirement

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Former state school employee Mary Carroll, who retired in June 2017, saved $171,936 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, Carroll would collect as much as $3.8 million, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Carroll received $79,859 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Carroll will have already received $246,837 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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