North Cook News

North Cook News

Thursday, February 20, 2020

Prospect Heights SD 23 Fialkowski paid in $20K to teachers pension fund, could collect $800K in retirement


By Local Labs News Service | Oct 16, 2018

Shutterstock 369740408

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.

Want to get notified whenever we write about Prospect Heights School District 23 ?

Sign-up Next time we write about Prospect Heights School District 23, we'll email you a link to the story. You may edit your settings or unsubscribe at any time.

Organizations in this Story

Prospect Heights School District 23

More News