Quantcast

South Cook News

Sunday, June 2, 2024

Former state school employee Rybarczyk paid in $232K to teachers' pension fund, could collect $4.42M in retirement

Shutterstock 267646277

Former state school employee Paul Rybarczyk, who retired in July 2017, saved $231,826 toward a pension over 27 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Rybarczyk would collect as much as $4.42 million, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Rybarczyk received $92,845 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Rybarczyk will have already received $286,974 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.
Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.
Donate

MORE NEWS