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Sangamon Sun

Friday, November 22, 2024

Former state school employee Wesoloski paid in $78K to teachers' pension fund, could collect $1.2M in retirement

Money041

Former state school employee Mary Anne Wesoloski, who retired in May 2018, saved $77,546 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, Wesoloski would collect as much as $1.2 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Wesoloski received $25,240 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Wesoloski will have already received $78,014 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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