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Former state school employee Cook paid in $181K to teachers' pension fund, could collect $3.99M in retirement

Schools

By Local Labs News Service | Jan 1, 2018

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Former state school employee Sandra Cook, who retired in December 2017, saved $181,122 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, Cook would collect as much as $3.99 million, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Cook received $83,833 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Cook will have already received $259,119 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Thornton Township High School District 205

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