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South Cook News

Monday, March 31, 2025

Former state school employee Plantan paid in $17K to teachers' pension fund, could collect $875K in retirement

Money 03

Former state school employee Monica Plantan, who retired in June 2016, saved $16,877 toward a pension over 11 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Plantan would collect as much as $874,894, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Plantan received $18,389 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Plantan will have already received $18,389 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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