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South Cook News

Wednesday, April 30, 2025

Former state school employee Faklis paid in $45K to teachers' pension fund, could collect $847K in retirement

Money 04

Former state school employee Ruth Faklis, who retired in April 2016, saved $45,326 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, Faklis would collect as much as $846,600, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Faklis received $17,794 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Faklis will have already received $55,000 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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