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Dupage Policy Journal

Sunday, June 2, 2024

Former state school employee Lewang Stockmann paid in $148K to teachers' pension fund, could collect $2.87M in retirement

Money272

Former state school employee Elfrieda Lewang Stockmann, who retired in June 2016, saved $148,400 toward a pension over 31 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Lewang Stockmann would collect as much as $2.87 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Lewang Stockmann received $60,249 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Lewang Stockmann will have already received $186,223 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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