Dupage Policy Journal

Dupage Policy Journal

Friday, October 18, 2019

Former state school employee Albrecht paid in $17K to teachers' pension fund, could collect $889K in retirement

Schools

By Local Labs News Service | Jan 1, 2019


Former state school employee Susan Albrecht, who retired in December 2018, saved $16,652 toward a pension over 10 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Albrecht would collect as much as $889,036, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Albrecht received $18,686 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Albrecht will have already received $18,686 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Downers Grove Grade School District 58

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