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Dupage Policy Journal

Wednesday, December 25, 2024

Former state school employee Hunter paid in $156K to teachers' pension fund, could collect $2.89M in retirement

Money041

Former state school employee Kerrylynn Hunter, who retired in December 2016, saved $156,052 toward a pension over 30 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Hunter would collect as much as $2.89 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Hunter received $60,700 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hunter will have already received $187,618 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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