Former state school employee Schlegel paid in $41K to teachers' pension fund, could collect $958K in retirement

By Local Labs News Service

Nov 1, 2016

Former state school employee Kimberly Schlegel, who retired in October 2016, saved $41,065 toward a pension over 12 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Schlegel would collect as much as $958,115, according to a projection by Local Government Information Services (LGIS), which publishes Illinois Valley Times.

The projection assumes Schlegel received $20,138 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Schlegel will have already received $62,244 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Minooka Community High School District 111 Board

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