Chicago City Wire

Chicago City Wire

Thursday, October 17, 2019

Former special education worker Tilsch paid in $96K to teachers' pension fund, could collect $1.69M in retirement

Schools

By Local Labs News Service | Feb 1, 2019


Former special education worker Douglas Tilsch, who retired in January 2019, saved $95,596 toward a pension over 18 years working for public schools, Chicago Teachers' Pension Fund records show.

Over 30 years of retirement, Tilsch would collect as much as $1.69 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Tilsch received $35,534 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Tilsch will have already received $109,832 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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