Former state school employee Stich paid in $144K to teachers' pension fund, could collect $2.84M in retirement

By Local Labs News Service

Jun 1, 2016

Former state school employee Scott Stich, who retired in May 2016, saved $143,894 toward a pension over 35 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Stich would collect as much as $2.84 million, according to a projection by Local Government Information Services (LGIS), which publishes NW Illinois News.

The projection assumes Stich received $59,716 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Stich will have already received $184,575 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Lena-Winslow Community Unit School District 202

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