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Dupage Policy Journal

Thursday, April 18, 2024

Former state school employee Orech paid in $246K to teachers' pension fund, could collect $5.32M in retirement

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Former state school employee Jon Orech, who retired in May 2018, saved $245,679 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, Orech would collect as much as $5.32 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Orech received $111,907 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Orech will have already received $345,893 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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