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McHenry Times

Tuesday, November 19, 2024

Former state school employee Zielinski paid in $194K to teachers' pension fund, could collect $3.37M in retirement

Money 05

Former state school employee Robert Zielinski, who retired in July 2017, saved $193,630 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, Zielinski would collect as much as $3.37 million, according to a projection by Local Government Information Services (LGIS), which publishes McHenry Times.

The projection assumes Zielinski received $70,937 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Zielinski will have already received $219,259 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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