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


By Local Labs News Service | Sep 1, 2018

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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.

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