Former state school employee Weiherman paid in $85K to teachers' pension fund, could collect $2.29M in retirement

By Local Labs News Service

Feb 1, 2016

Former state school employee John Weiherman, who retired in January 2016, saved $84,642 toward a pension over 32 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Weiherman would collect as much as $2.29 million, according to a projection by Local Government Information Services (LGIS), which publishes Rockford Sun.

The projection assumes Weiherman received $48,131 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Weiherman will have already received $97,706 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Kinnikinnick Community Consolidated School District 131 Board

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