Dupage Policy Journal

Dupage Policy Journal

Wednesday, December 11, 2019

Former state school employee Redig paid in $156K to teachers' pension fund, could collect $3.95M in retirement

Schools

By Local Labs News Service | Jun 1, 2018

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Former state school employee Thomas Redig, who retired in May 2018, saved $155,649 toward a pension over 32 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Redig would collect as much as $3.95 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Redig received $83,078 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Redig will have already received $168,648 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Downers Grove Community High School District 99

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