Former state school employee Wheeler paid in $46K to teachers' pension fund, could collect $613K in retirement

By East Central Reporter Reports

Jun 1, 2018

Former state school employee Diane Wheeler, who retired in May 2018, saved $46,069 toward a pension over 14 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Wheeler would collect as much as $613,288, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Wheeler received $12,890 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Wheeler will have already received $53,927 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Windsor Community Unit School District 1

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