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Southern Illinois News

Friday, April 19, 2024

Former state school employee Rolnicki paid in $116K to teachers' pension fund, could collect $2.53M in retirement

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Former state school employee Lawrence Rolnicki, who retired in December 2018, saved $115,629 toward a pension over 30 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Rolnicki would collect as much as $2.53 million, according to a projection by Local Government Information Services (LGIS), which publishes Southern Illinois News.

The projection assumes Rolnicki received $53,243 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Rolnicki will have already received $164,568 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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