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Metro East Sun

Monday, May 20, 2024

Former state school employee Oheron paid in $25K to teachers' pension fund, could collect $365K in retirement

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Former state school employee Judith Oheron, who retired in July 2017, saved $24,772 toward a pension over 7 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Oheron would collect as much as $365,190, according to a projection by Local Government Information Services (LGIS), which publishes Metro East Sun.

The projection assumes Oheron received $7,676 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Oheron will have already received $32,112 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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