Dupage Policy Journal

Dupage Policy Journal

Tuesday, December 10, 2019

Former state school employee Schuman paid in $175K to teachers' pension fund, could collect $4.42M in retirement

Schools

By Local Labs News Service | Jun 1, 2016

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Former state school employee Gayle Schuman, who retired in May 2016, saved $174,792 toward a pension over 34 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Schuman would collect as much as $4.42 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Schuman received $92,956 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Schuman will have already received $188,701 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Naperville Community Unit School District 203

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