Former state school employee Smazik paid in $28K to teachers' pension fund, could collect $460K in retirement

By Local Labs News Service

Oct 1, 2016

Former state school employee Ann Smazik, who retired in September 2016, saved $27,849 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, Smazik would collect as much as $460,314, according to a projection by Local Government Information Services (LGIS), which publishes Rockford Sun.

The projection assumes Smazik received $9,675 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Smazik will have already received $29,904 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Rockford School District 205

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