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McHenry Times

Wednesday, November 27, 2024

Former state school employee Zalnis paid in $65K to teachers' pension fund, could collect $910K in retirement

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Former state school employee Laura Zalnis, who retired in November 2017, saved $64,548 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, Zalnis would collect as much as $910,473, according to a projection by Local Government Information Services (LGIS), which publishes McHenry Times.

The projection assumes Zalnis received $19,137 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Zalnis will have already received $80,061 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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