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South Cook News

Thursday, April 18, 2024

Former state school employee Liston paid in $73K to teachers' pension fund, could collect $1.03M in retirement

Money 01

Former state school employee Susan Liston, who retired in July 2017, saved $72,762 toward a pension over 10 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Liston would collect as much as $1.03 million, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Liston received $21,648 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Liston will have already received $90,566 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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