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Dupage Policy Journal

Friday, April 19, 2024

Former state school employee Hunckler paid in $256K to teachers' pension fund, could collect $5.21M in retirement

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Former state school employee Carl Hunckler, who retired in May 2018, saved $256,349 toward a pension over 31 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Hunckler would collect as much as $5.21 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Hunckler received $109,520 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hunckler will have already received $338,516 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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