Former state school employee Heinrich paid in $162K to teachers' pension fund, could collect $4.02M in retirement

By Rock Island Today Reports

Jul 1, 2017

Former state school employee Karla Heinrich, who retired in June 2017, saved $162,015 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, Heinrich would collect as much as $4.02 million, according to a projection by Local Government Information Services (LGIS), which publishes Rock Island Today.

The projection assumes Heinrich received $84,522 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Heinrich will have already received $171,580 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Moline-Coal Valley School District 40

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