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DeKalb Times

Friday, November 22, 2024

Former state school employee Solar paid in $181K to teachers' pension fund, could collect $4.16M in retirement

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Former state school employee Esther Solar, who retired in May 2017, saved $181,083 toward a pension over 35 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Solar would collect as much as $4.16 million, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Solar received $87,428 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Solar will have already received $270,232 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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