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McHenry Times

Tuesday, April 23, 2024

Former state school employee Stawarz paid in $89K to teachers' pension fund, could collect $1.44M in retirement

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Former state school employee Nancy Stawarz, who retired in June 2018, saved $89,354 toward a pension over 20 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Stawarz would collect as much as $1.44 million, according to a projection by Local Government Information Services (LGIS), which publishes McHenry Times.

The projection assumes Stawarz received $30,206 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Stawarz will have already received $93,363 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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