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Quincy Reporter

Tuesday, November 5, 2024

Former state school employee Schodroski paid in $46K to teachers' pension fund, could collect $837K in retirement

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Former state school employee Nancy Schodroski, who retired in March 2016, saved $45,961 toward a pension over 13 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Schodroski would collect as much as $836,741, according to a projection by Local Government Information Services (LGIS), which publishes Quincy Reporter.

The projection assumes Schodroski received $17,587 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Schodroski will have already received $54,360 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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