Former state school employee Widhalm paid in $171K to teachers' pension fund, could collect $3.57M in retirement

By Local Labs News Service

Jun 1, 2017

Former state school employee Paul Widhalm, who retired in May 2017, saved $170,633 toward a pension over 28 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Widhalm would collect as much as $3.57 million, according to a projection by Local Government Information Services (LGIS), which publishes Rockford Sun.

The projection assumes Widhalm received $75,126 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Widhalm will have already received $232,207 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Belvidere Consolidated Unit School District 100 Board

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