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Dupage Policy Journal

Monday, November 25, 2024

Former state school employee Cramer paid in $181K to teachers' pension fund, could collect $3.92M in retirement

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Former state school employee Diana Cramer, who retired in May 2017, saved $181,255 toward a pension over 39 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Cramer would collect as much as $3.92 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Cramer received $82,421 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Cramer will have already received $254,756 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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