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Kendall County Times

Saturday, November 23, 2024

Former state school employee Surma paid in $48K to teachers' pension fund, could collect $670K in retirement

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Former state school employee Maribeth Surma, who retired in July 2017, saved $47,563 toward a pension over 7 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Surma would collect as much as $670,025, according to a projection by Local Government Information Services (LGIS), which publishes Kendall County Times.

The projection assumes Surma received $14,083 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Surma will have already received $58,916 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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