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Grundy Reporter

Friday, November 22, 2024

Former state school employee Windish paid in $188K to teachers' pension fund, could collect $3.62M in retirement

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Former state school employee Paul Windish, who retired in June 2017, saved $188,134 toward a pension over 29 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Windish would collect as much as $3.62 million, according to a projection by Local Government Information Services (LGIS), which publishes Grundy Reporter.

The projection assumes Windish received $76,085 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Windish will have already received $235,172 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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