Former state school employee Schroeder paid in $105K to teachers' pension fund, could collect $1.87M in retirement

By Local Labs News Service

Jul 1, 2016

Former state school employee Susan Schroeder, who retired in June 2016, saved $105,270 toward a pension over 23 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Schroeder would collect as much as $1.87 million, according to a projection by Local Government Information Services (LGIS), which publishes McHenry Times.

The projection assumes Schroeder received $39,347 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Schroeder will have already received $121,617 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Crystal Lake Community Consolidated School District 47

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