Dupage Policy Journal

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Thursday, November 21, 2019

Former state school employee Krumwiede paid in $49K to teachers' pension fund, could collect $771K in retirement

Schools

By Local Labs News Service | Jul 1, 2018

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Former state school employee Kris Krumwiede, who retired in June 2018, saved $49,488 toward a pension over 12 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Krumwiede would collect as much as $770,504, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Krumwiede received $16,195 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Krumwiede will have already received $50,057 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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