Former state school employee MacKowiak paid in $102K to teachers' pension fund, could collect $1.66M in retirement

By Local Labs News Service

Jul 1, 2018

Former state school employee Laura MacKowiak, who retired in June 2018, saved $102,459 toward a pension over 27 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, MacKowiak would collect as much as $1.66 million, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes MacKowiak received $34,802 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, MacKowiak will have already received $107,569 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

Dolton School District 148

!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