Former state school employee Wilhelm paid in $164K to teachers' pension fund, could collect $3.67M in retirement

By Rock Island Today Reports

Jul 1, 2016

Former state school employee Jay Wilhelm, who retired in June 2016, saved $163,802 toward a pension over 36 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Wilhelm would collect as much as $3.67 million, according to a projection by Local Government Information Services (LGIS), which publishes Rock Island Today.

The projection assumes Wilhelm received $77,194 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Wilhelm will have already received $238,599 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Rock Island-Milan School District 41 Board

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