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McHenry Times

Monday, May 20, 2024

Former state school employee Rausch paid in $227K to teachers' pension fund, could collect $6.03M in retirement

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Former state school employee Paul Rausch, who retired in May 2017, saved $226,918 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, Rausch would collect as much as $6.03 million, according to a projection by Local Government Information Services (LGIS), which publishes McHenry Times.

The projection assumes Rausch received $126,670 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Rausch will have already received $257,140 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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