Dupage Policy Journal

Dupage Policy Journal

Tuesday, October 22, 2019

Former state school employee Divine paid in $80K to teachers' pension fund, could collect $2M in retirement

Schools

By Local Labs News Service | Feb 1, 2018


Former state school employee Mary Divine, who retired in January 2018, saved $79,687 toward a pension over 28 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Divine would collect as much as $2 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Divine received $41,970 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Divine will have already received $85,199 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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