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South Cook News

Thursday, June 26, 2025

Former state school employee Omara paid in $358K to teachers' pension fund, could collect $8.19M in retirement

Money041

Former state school employee Kevin Omara, who retired in July 2017, saved $358,018 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, Omara would collect as much as $8.19 million, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Omara received $172,134 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Omara will have already received $532,049 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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