Former state school employee Fricke paid in $62K to teachers' pension fund, could collect $903K in retirement

By Local Labs News Service

Mar 1, 2017

Former state school employee Steven Fricke, who retired in February 2017, saved $62,173 toward a pension over 15 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Fricke would collect as much as $902,520, according to a projection by Local Government Information Services (LGIS), which publishes NW Illinois News.

The projection assumes Fricke received $18,970 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Fricke will have already received $79,363 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Freeport School District 145 Board

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