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Former state school employee Krueger paid in $262K to teachers' pension fund, could collect $5.78M in retirement

Schools

By Local Labs News Service | Jul 1, 2017

Money759

Former state school employee Jess Krueger, who retired in June 2017, saved $261,810 toward a pension over 35 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Krueger would collect as much as $5.78 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Krueger received $121,568 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Krueger will have already received $375,754 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Hinsdale Township High School District 86

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