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North Cook News

Wednesday, April 2, 2025

Former state school employee Gotrik paid in $255K to teachers' pension fund, could collect $5.2M in retirement

Money759

Former state school employee Glenn Gotrik, who retired in June 2018, saved $254,945 toward a pension over 34 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Gotrik would collect as much as $5.2 million, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Gotrik received $109,283 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Gotrik will have already received $337,782 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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