Former state school employee Tischer paid in $189K to teachers' pension fund, could collect $4.03M in retirement

By Local Labs News Service

Jul 1, 2018

Former state school employee Stanley Tischer, who retired in June 2018, saved $189,476 toward a pension over 25 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Tischer would collect as much as $4.03 million, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Tischer received $84,708 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Tischer will have already received $261,823 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Minooka Community High School District 111 Board

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