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Illinois Valley Times

Wednesday, December 25, 2024

Former state school employee Wajrowski paid in $125K to teachers' pension fund, could collect $2.55M in retirement

Money 03

Former state school employee James Wajrowski, who retired in May 2017, saved $125,217 toward a pension over 32 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Wajrowski would collect as much as $2.55 million, according to a projection by Local Government Information Services (LGIS), which publishes Illinois Valley Times.

The projection assumes Wajrowski received $53,497 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Wajrowski will have already received $165,354 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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