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Metro East Sun

Monday, May 20, 2024

Former state school employee Cook paid in $128K to teachers' pension fund, could collect $2.21M in retirement

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Former state school employee Christine Cook, who retired in June 2016, saved $127,565 toward a pension over 30 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Cook would collect as much as $2.21 million, according to a projection by Local Government Information Services (LGIS), which publishes Metro East Sun.

The projection assumes Cook received $46,361 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Cook will have already received $143,298 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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