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Dupage Policy Journal

Thursday, April 18, 2024

Former state school employee Dudek paid in $7K to teachers' pension fund, could collect $308K in retirement

Money 04

Former state school employee Jacqueline Dudek, who retired in June 2018, saved $7,201 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, Dudek would collect as much as $307,986, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Dudek received $6,473 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Dudek will have already received $13,140 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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