Former state school employee Choiniere paid in $139K to teachers' pension fund, could collect $6.11M in retirement

By Local Labs News Service

Jul 1, 2017

Former state school employee Phyllis Choiniere, who retired in June 2017, saved $138,582 toward a pension over 55 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Choiniere would collect as much as $6.11 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Choiniere received $128,467 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Choiniere will have already received $260,788 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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