Former state school employee Schulze paid in $6K to teachers' pension fund, could collect $110K in retirement

By Local Labs News Service

Nov 1, 2016

Former state school employee Helene Schulze, who retired in October 2016, saved $6,054 toward a pension over 5 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Schulze would collect as much as $110,350, according to a projection by Local Government Information Services (LGIS), which publishes NW Illinois News.

The projection assumes Schulze received $2,319 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Schulze will have already received $7,169 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Erie Community Unit School District 1

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