Former state school employee Reising Rechner paid in $158K to teachers' pension fund, could collect $2.93M in retirement

By Local Labs News Service

Jul 1, 2016

Former state school employee Pamela Reising Rechner, who retired in June 2016, saved $158,057 toward a pension over 28 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Reising Rechner would collect as much as $2.93 million, according to a projection by Local Government Information Services (LGIS), which publishes Illinois Valley Times.

The projection assumes Reising Rechner received $61,678 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Reising Rechner will have already received $190,640 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Illinois State Board Of Education

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