Former state school employee Schwoerer paid in $100K to teachers' pension fund, could collect $2.19M in retirement

By Local Labs News Service

Jun 1, 2016

Former state school employee Suzanne Schwoerer, who retired in May 2016, saved $99,877 toward a pension over 27 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Schwoerer would collect as much as $2.19 million, according to a projection by Local Government Information Services (LGIS), which publishes McLean County Times.

The projection assumes Schwoerer received $46,084 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Schwoerer will have already received $142,442 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Olympia Community Unit School District 16

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