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Sangamon Sun

Tuesday, November 5, 2024

Former state school employee Wredling paid in $225K to teachers' pension fund, could collect $4.08M in retirement

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Former state school employee Susan Wredling, who retired in May 2018, saved $224,720 toward a pension over 33 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Wredling would collect as much as $4.08 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Wredling received $85,838 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Wredling will have already received $265,316 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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