Former state school employee Schlanser paid in $84K to teachers' pension fund, could collect $1.32M in retirement

By East Central Reporter Reports

Jun 1, 2016

Former state school employee Patricia Schlanser, who retired in May 2016, saved $84,222 toward a pension over 23 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Schlanser would collect as much as $1.32 million, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Schlanser received $27,646 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Schlanser will have already received $85,450 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Teutopolis Community Unit School District 50 Board

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