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Sangamon Sun

Friday, April 4, 2025

Former state school employee Wherley paid in $210K to teachers' pension fund, could collect $4.18M in retirement

Money041

Former state school employee Richard Wherley, who retired in June 2018, saved $210,175 toward a pension over 35 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Wherley would collect as much as $4.18 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Wherley received $87,924 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Wherley will have already received $271,765 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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