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Kendall County Times

Friday, April 19, 2024

Former state school employee Grzanich paid in $125K to teachers' pension fund, could collect $2.65M in retirement

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Former state school employee Lisa Grzanich, who retired in January 2017, saved $124,751 toward a pension over 30 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Grzanich would collect as much as $2.65 million, according to a projection by Local Government Information Services (LGIS), which publishes Kendall County Times.

The projection assumes Grzanich received $55,690 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Grzanich will have already received $172,133 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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