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South Cook News

Wednesday, April 24, 2024

Former state school employee Szeligowski paid in $40K to teachers' pension fund, could collect $600K in retirement

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Former state school employee Regina Szeligowski, who retired in May 2018, saved $39,576 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, Szeligowski would collect as much as $600,392, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Szeligowski received $12,619 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Szeligowski will have already received $52,795 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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