Former state school employee Stoltz paid in $82K to teachers' pension fund, could collect $1.77M in retirement

By Local Labs News Service

Jun 1, 2017

Former state school employee Charles Stoltz, who retired in May 2017, saved $82,261 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, Stoltz would collect as much as $1.77 million, according to a projection by Local Government Information Services (LGIS), which publishes SE Illinois News.

The projection assumes Stoltz received $37,286 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Stoltz will have already received $115,248 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

Allendale Community Consolidated School District 17

!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