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Kankakee Times

Saturday, November 23, 2024

Former state school employee Enz paid in $44K to teachers' pension fund, could collect $816K in retirement

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Former state school employee James Enz, who retired in September 2016, saved $44,053 toward a pension over 16 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Enz would collect as much as $815,828, according to a projection by Local Government Information Services (LGIS), which publishes Kankakee Times.

The projection assumes Enz received $17,148 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Enz will have already received $53,002 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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