Former state school employee Schuble paid in $22K to teachers' pension fund, could collect $163K in retirement

By Local Labs News Service

Jul 1, 2016

Former state school employee Walter Schuble, who retired in June 2016, saved $21,774 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, Schuble would collect as much as $162,890, according to a projection by Local Government Information Services (LGIS), which publishes NW Illinois News.

The projection assumes Schuble received $3,423 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 6 years of retirement, Schuble will have already received $22,144 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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