Lincoln-Way Taxpayers Paid $368,000 Into Annuity Account for Ex-Superintendent
ICPR Executive Director Sarah Brune is quoted in this article
via Chicago Tribune
“Taxpayers in Lincoln-Way High School District 210 paid $368,148 into an annuity account for ex-Superintendent Lawrence Wyllie, newly released records and interviews show.
The annuity is a second publicly funded retirement benefit for Wyllie, who is currently collecting a $312,000 pension — the largest in the state’s teachers fund. The school board voted on April 7, 2004, to approve Wyllie’s annuity, as part of a broader vote on 2004-05 administration and support staff salaries, Vice President Christine Glatz said. The April 7, 2004, meeting minutes do not mention the annuity.
The district first bought the annuity in June 2004 and the agent on the policy was Wyllie’s son, Christopher Wyllie, account statements released by the district and interviews show.
When Wyllie retired in the summer of 2013, Lincoln-Way High School District 210 transferred ownership of the annuity to him, records show. A March 2013 policy statement released by the district shows the annuity was worth $515,685 at the time.”
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