Former state school employee Eiesland Schultz paid in $34K to teachers' pension fund, could collect $904K in retirement

By Local Labs News Service

Apr 1, 2018

Former state school employee Inger Eiesland Schultz, who retired in March 2018, saved $33,827 toward a pension over 10 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Eiesland Schultz would collect as much as $904,239, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Eiesland Schultz received $19,006 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Eiesland Schultz will have already received $38,582 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Palatine Community Consolidated School District 15 Board

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