Former state school employee Gehrke paid in $167K to teachers' pension fund, could collect $2.81M in retirement

By Local Labs News Service

Jun 1, 2017

Former state school employee John Gehrke, who retired in May 2017, saved $167,280 toward a pension over 34 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Gehrke would collect as much as $2.81 million, according to a projection by Local Government Information Services (LGIS), which publishes NW Illinois News.

The projection assumes Gehrke received $58,973 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Gehrke will have already received $182,279 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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