Former state school employee Grishaber paid in $198K to teachers' pension fund, could collect $4.67M in retirement

By Local Labs News Service

Jul 1, 2016

Former state school employee Susan Grishaber, who retired in June 2016, saved $198,281 toward a pension over 35 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Grishaber would collect as much as $4.67 million, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Grishaber received $98,232 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Grishaber will have already received $199,411 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Wilmette School District 39 Board

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