Former state school employee Zick paid in $197K to teachers' pension fund, could collect $4.83M in retirement

By Local Labs News Service

Aug 1, 2016

Former state school employee John Zick, who retired in July 2016, saved $197,270 toward a pension over 34 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Zick would collect as much as $4.83 million, according to a projection by Local Government Information Services (LGIS), which publishes NW Illinois News.

The projection assumes Zick received $101,589 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Zick will have already received $206,226 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Ashton-Franklin Center CUSD #275

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