Former state school employee Spitler paid in $237K to teachers' pension fund, could collect $4.91M in retirement

Former state school employee Glenn Spitler, who retired in May 2018, saved $236,972 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, Spitler would collect as much as $4.91 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Spitler received $103,288 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Spitler will have already received $319,254 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.