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Sangamon Sun

Tuesday, November 5, 2024

Former state school employee Ulrich paid in $147K to teachers' pension fund, could collect $3.14M in retirement

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Former state school employee Janet Ulrich, who retired in March 2016, saved $147,241 toward a pension over 27 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Ulrich would collect as much as $3.14 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Ulrich received $66,070 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Ulrich will have already received $204,216 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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