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Sangamon Sun

Wednesday, April 24, 2024

Former state school employee Zehr paid in $92K to teachers' pension fund, could collect $1.85M in retirement

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Former state school employee Tamara Zehr, who retired in May 2017, saved $91,987 toward a pension over 26 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Zehr would collect as much as $1.85 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Zehr received $38,850 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Zehr will have already received $120,082 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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