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DeKalb Times

Sunday, November 17, 2024

Former state school employee Imm paid in $189K to teachers' pension fund, could collect $4.34M in retirement

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Former state school employee William Imm, who retired in June 2018, saved $189,213 toward a pension over 42 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Imm would collect as much as $4.34 million, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Imm received $91,287 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Imm will have already received $282,160 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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