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North Cook News

Monday, November 25, 2024

Maine TWP HSD 207 Grichnik paid in $174K to teachers pension fund, could collect $5.6 million in retirement

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Retired Maine TWP HSD 207 employee Dana Grichnik saved $173,906 toward her pension over 29 years working for public schools, Illinois Teachers' Retirement Fund (TRS) records show.

Over 40 years of retirement, Grichnik would collect as much as $5.607 million, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

Grichnik, 55, who currently lives in Rolling Meadows, earned $70,944 in her final year at Maine TWP HSD 207.

The projection assumes Grichnik will receive 99.5 percent of that total - $70,555 - in her first year of retirement, then 3 percent annual increases thereafter, compounded.

After three years of retirement, Grichnik will have already received $218,079 in retirement benefits, or more than the sum total of her contributions to the state teachers' pension fund.

ISBE reported that 57.1 percent of Maine TWP HSD 207 graduates were deemed "college ready" last year.

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