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NW Illinois News

Friday, April 18, 2025

Former state school employee Stech paid in $105K to teachers' pension fund, could collect $1.79M in retirement

Money 03

Former state school employee Alice Stech, who retired in October 2018, saved $105,202 toward a pension over 20 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Stech would collect as much as $1.79 million, according to a projection by Local Government Information Services (LGIS), which publishes NW Illinois News.

The projection assumes Stech received $37,726 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Stech will have already received $116,608 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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