Former state school employee Wassef paid in $3K to teachers' pension fund, could collect $75K in retirement

By Local Labs News Service

Jul 1, 2016

Former state school employee Mona Wassef, who retired in June 2016, saved $3,172 toward a pension over 1 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Wassef would collect as much as $75,096, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Wassef received $1,578 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Wassef will have already received $3,203 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Danville Community Consolidated School District 118

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