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South Cook News

Saturday, May 18, 2024

Former state school employee Jilek paid in $109K to teachers' pension fund, could collect $2.45M in retirement

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Former state school employee Gail Jilek, who retired in May 2016, saved $109,480 toward a pension over 28 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Jilek would collect as much as $2.45 million, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Jilek received $51,476 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Jilek will have already received $159,107 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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