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Dupage Policy Journal

Thursday, April 25, 2024

Former state school employee Skroch paid in $104K to teachers' pension fund, could collect $1.93M in retirement

Money 05

Former state school employee Terry Skroch, who retired in May 2016, saved $103,941 toward a pension over 22 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Skroch would collect as much as $1.93 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Skroch received $40,607 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Skroch will have already received $125,512 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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