Dupage Policy Journal

Dupage Policy Journal

Thursday, November 14, 2019

Former state school employee Freiberger paid in $84K to teachers' pension fund, could collect $1.53M in retirement

Schools

By Local Labs News Service | Oct 1, 2017

Money041

Former state school employee Cheryl Freiberger, who retired in September 2017, saved $83,604 toward a pension over 18 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Freiberger would collect as much as $1.53 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Freiberger received $32,231 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Freiberger will have already received $99,623 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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