Former state school employee Cooper paid in $89K to teachers' pension fund, could collect $2.01M in retirement

By Local Labs News Service

Feb 1, 2017

Former state school employee Carol Cooper, who retired in January 2017, saved $89,267 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, Cooper would collect as much as $2.01 million, according to a projection by Local Government Information Services (LGIS), which publishes NW Illinois News.

The projection assumes Cooper received $42,268 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Cooper will have already received $130,646 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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