Dupage Policy Journal

Dupage Policy Journal

Friday, October 18, 2019

Former state school employee Krone paid in $7K to teachers' pension fund, could collect $185K in retirement


By Local Labs News Service | Aug 1, 2018

Former state school employee Suzette Krone, who retired in July 2018, saved $7,414 toward a pension over 5 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Krone would collect as much as $185,321, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Krone received $3,895 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Krone will have already received $7,907 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Downers Grove Grade School District 58

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