Prospect Heights SD 23 Fialkowski paid in $20K to teachers pension fund, could collect $800K in retirement
Retired Prospect Heights SD 23 employee Gwen Fialkowski saved $20,465 toward her pension over 18 years working for public schools, Illinois Teachers' Retirement Fund (TRS) records show.
Over 32 years of retirement, Fialkowski would collect as much as $797,000 according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.
Fialkowski, 63, who currently lives in Arlington Heights, earned $9,324 in her final year at Prospect Heights SD 23.
The projection assumes Fialkowski will receive $14,099 in her first year of retirement, then 3 percent annual increases thereafter, compounded.
After three years of retirement, Fialkowski will have already received $43,577 in retirement benefits, or more than the sum total of her contributions to the state teachers' pension fund.
According to the Illinois State Board of Education (ISBE), 47.4 percent of Prospect Heights SD 23 students met or exceeded the standards for the "PARCC" exams.