Former state school employee Schwarz paid in $5K to teachers' pension fund, could collect $146K in retirement

By West Cook News

Feb 1, 2018

Former state school employee William Schwarz, who retired in January 2018, saved $5,449 toward a pension over 1 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Schwarz would collect as much as $146,008, according to a projection by Local Government Information Services (LGIS), which publishes West Cook News.

The projection assumes Schwarz received $3,069 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Schwarz will have already received $6,230 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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J. Sterling Morton High School District 201

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