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Kane County Reporter

Tuesday, May 7, 2024

Former state school employee Whiting paid in $182K to teachers' pension fund, could collect $3.93M in retirement

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Former state school employee Gordon Whiting, who retired in May 2016, saved $181,632 toward a pension over 33 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Whiting would collect as much as $3.93 million, according to a projection by Local Government Information Services (LGIS), which publishes Kane County Reporter.

The projection assumes Whiting received $82,691 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Whiting will have already received $255,590 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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