Dupage Policy Journal

Dupage Policy Journal

Tuesday, November 12, 2019

Former state school employee Cummings paid in $12K to teachers' pension fund, could collect $578K in retirement

Schools

By Local Labs News Service | Sep 1, 2018

Shutterstock 267646277

Former state school employee Laura Cummings, who retired in August 2018, saved $11,893 toward a pension over 6 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Cummings would collect as much as $577,670, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Cummings received $12,142 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Cummings will have already received $12,142 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

Want to get notified whenever we write about Philip J Rock Service Center ?

Sign-up Next time we write about Philip J Rock Service Center, we'll email you a link to the story. You may edit your settings or unsubscribe at any time.

Organizations in this Story

Philip J Rock Service Center

More News