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Sangamon Sun

Wednesday, November 13, 2024

Former state school employee Frisch paid in $141K to teachers' pension fund, could collect $2.68M in retirement

Money041

Former state school employee Robert Frisch, who retired in May 2018, saved $140,575 toward a pension over 25 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Frisch would collect as much as $2.68 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Frisch received $56,292 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Frisch will have already received $173,993 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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