Quantcast

Macon Reporter

Monday, April 21, 2025

Former state school employee Scholl paid in $134K to teachers' pension fund, could collect $2.71M in retirement

Shutterstock 262120544

Former state school employee Richard Scholl, who retired in May 2016, saved $133,834 toward a pension over 34 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Scholl would collect as much as $2.71 million, according to a projection by Local Government Information Services (LGIS), which publishes Macon Reporter.

The projection assumes Scholl received $57,050 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Scholl will have already received $176,337 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

!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