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Dupage Policy Journal

Tuesday, April 23, 2024

Former state school employee Kueker paid in $48K to teachers' pension fund, could collect $774K in retirement

Money 04

Former state school employee Kathleen Kueker, who retired in June 2016, saved $47,700 toward a pension over 21 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Kueker would collect as much as $773,730, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Kueker received $16,263 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Kueker will have already received $50,268 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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