Dupage Policy Journal

Dupage Policy Journal

Tuesday, October 22, 2019

Former state school employee Franken paid in $204K to teachers' pension fund, could collect $4.57M in retirement

Schools

By Local Labs News Service | Jul 1, 2017


Former state school employee Linda Franken, who retired in June 2017, saved $204,230 toward a pension over 41 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Franken would collect as much as $4.57 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Franken received $96,022 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Franken will have already received $296,795 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Elmhurst Community Unit School District 205

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