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Dupage Policy Journal

Monday, November 25, 2024

Former state school employee Hungness paid in $1K to teachers' pension fund, could collect $183K in retirement

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Former state school employee Rovena Hungness, who retired in May 2017, saved $1,383 toward a pension over 2 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Hungness would collect as much as $183,186, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Hungness received $3,850 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Hungness will have already received $3,850 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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