Former state school employee Schuler paid in $142K to teachers' pension fund, could collect $3.4M in retirement

By East Central Reporter Reports

Jun 1, 2016

Former state school employee Jerome Schuler, who retired in May 2016, saved $141,564 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, Schuler would collect as much as $3.4 million, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Schuler received $71,450 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Schuler will have already received $145,044 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Mattoon Community Unit School District 2

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