Former state school employee Wright paid in $82K to teachers' pension fund, could collect $2.07M in retirement

By Local Labs News Service

Apr 1, 2017

Former state school employee Stephen Wright, who retired in March 2017, saved $82,099 toward a pension over 21 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Wright would collect as much as $2.07 million, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Wright received $43,448 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Wright will have already received $88,199 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Lockport Township High School District 205

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