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South Central Reporter

Monday, May 20, 2024

Former state school employee Maziarz paid in $129K to teachers' pension fund, could collect $3.06M in retirement

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Former state school employee Susan Maziarz, who retired in May 2017, saved $129,121 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, Maziarz would collect as much as $3.06 million, according to a projection by Local Government Information Services (LGIS), which publishes South Central Reporter.

The projection assumes Maziarz received $64,340 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Maziarz will have already received $130,610 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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