Former state school employee Fehrenbacher paid in $118K to teachers' pension fund, could collect $2.36M in retirement

By Local Labs News Service

Jun 1, 2018

Former state school employee Margaret Fehrenbacher, who retired in May 2018, saved $118,440 toward a pension over 25 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Fehrenbacher would collect as much as $2.36 million, according to a projection by Local Government Information Services (LGIS), which publishes Kendall County Times.

The projection assumes Fehrenbacher received $49,622 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Fehrenbacher will have already received $153,377 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Oswego Community Unit School District 308

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