Former state school employee Greimann paid in $74K to teachers' pension fund, could collect $976K in retirement

By Local Labs News Service

Jul 1, 2016

Former state school employee Dale Greimann, who retired in June 2016, saved $73,811 toward a pension over 6 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Greimann would collect as much as $975,950, according to a projection by Local Government Information Services (LGIS), which publishes NW Illinois News.

The projection assumes Greimann received $20,513 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Greimann will have already received $85,818 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Galena Unit School District 120

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