Here's The Pension For Ex-Burr Ridge D180 Leader

BURR RIDGE, IL – Thomas Schneider, who retired over the summer as the superintendent of Burr Ridge School District 180, is pulling in a pension that pays $18,256 a month.

That works out to $219,072 a year. Patch obtained the numbers through its latest public records request to the Teachers Retirement System.

In June, Schneider left the district after 17 years with a salary of just under $300,000. He retired at age 57 after about 35 years of service.

During his career, Schneider made $383,266 in contributions to the pension system, which works out to about $11,000 each year of service.

In 21 months, Schneider will have received the equivalent of his contributions. He won't even be 60 at that point.

Under state law, teacher pensions are guaranteed to rise by 3 percent compounded annually. That means Schneider's monthly check will rise to $21,163 in five years, or $253,956 annually.

In Illinois, male life expectancy is about 77 years old. If Schneider lives another 20 years, he will pull in more than $5 million.

Many consider the Teachers Retirement System's finances unsustainable. According to the system, its unfunded liability as of last year stood at nearly $81 billion.

Schneider's final salary was $299,495. His last raise was $16,495.

Last year, Patch compared Schneider's pay to superintendents in the area. His was the highest.

District 180's latest enrollment is 445. At that level, Schneider's salary worked out to about $675 per student. That compares to $30 in Elmhurst School District 205, where the $250,000-a-year superintendent is in charge of more than 8,000 students.

Nearly 90 percent of District 180's students are considered low-income. The district covers southern Burr Ridge and nearby unincorporated areas, which include low-income housing.

Members of the Teachers Retirement System are ineligible for Social Security.