Former state school employee Jeschke paid in $174K to teachers' pension fund, could collect $4M in retirement

By Local Labs News Service

Jul 1, 2016

Former state school employee Julie Jeschke, who retired in June 2016, saved $173,706 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, Jeschke would collect as much as $4 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Jeschke received $84,044 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Jeschke will have already received $259,771 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

Grayslake Consolidated Community School District 46 Board

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.

Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.

Donate