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Sangamon Sun

Tuesday, May 7, 2024

Former state school employee Skorczewski paid in $49K to teachers' pension fund, could collect $952K in retirement

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Former state school employee Charles Skorczewski, who retired in June 2018, saved $49,216 toward a pension over 16 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Skorczewski would collect as much as $951,630, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Skorczewski received $20,002 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Skorczewski will have already received $61,824 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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