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McHenry Times

Thursday, April 25, 2024

Former state school employee Weidner paid in $10K to teachers' pension fund, could collect $236K in retirement

Money 07

Former state school employee Mary Weidner, who retired in December 2017, saved $10,470 toward a pension over 8 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Weidner would collect as much as $236,040, according to a projection by Local Government Information Services (LGIS), which publishes McHenry Times.

The projection assumes Weidner received $4,961 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Weidner will have already received $15,334 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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