Dupage Policy Journal

Dupage Policy Journal

Friday, December 6, 2019

Former state school employee Dunn paid in $88K to teachers' pension fund, could collect $7.94M in retirement

Schools

By Local Labs News Service | Aug 1, 2018

Shutterstock 233512279

Former state school employee Randy Dunn, who retired in July 2018, saved $87,580 toward a pension over 16 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Dunn would collect as much as $7.94 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Dunn received $166,885 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Dunn will have already received $166,885 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 Illinois State Board of Education ?

Sign-up Next time we write about Illinois State Board of Education, we'll email you a link to the story. You may edit your settings or unsubscribe at any time.

Organizations in this Story

Illinois State Board of Education

More News