Quantcast

Dupage Policy Journal

Wednesday, April 24, 2024

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

Shutterstock 113962678

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.

ORGANIZATIONS IN THIS STORY

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.
Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.
Donate

MORE NEWS