Quantcast

South Cook News

Friday, April 19, 2024

Former state school employee Kaymark paid in $163K to teachers' pension fund, could collect $3.23M in retirement

Shutterstock 434242897

Former state school employee Cynthia Kaymark, who retired in June 2018, saved $162,727 toward a pension over 36 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Kaymark would collect as much as $3.23 million, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Kaymark received $67,987 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Kaymark will have already received $210,142 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.
Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.
Donate

MORE NEWS