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South Cook News

Wednesday, April 24, 2024

Former state school employee Zohfeld paid in $39K to teachers' pension fund, could collect $602K in retirement

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Former state school employee Laura Zohfeld, who retired in February 2017, saved $38,720 toward a pension over 12 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Zohfeld would collect as much as $601,608, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Zohfeld received $12,645 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Zohfeld will have already received $39,084 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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