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Dupage Policy Journal

Monday, November 25, 2024

Former state school employee Laufenberg paid in $20K to teachers' pension fund, could collect $665K in retirement

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Former state school employee Robert Laufenberg, who retired in April 2017, saved $19,772 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, Laufenberg would collect as much as $664,818, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Laufenberg received $13,974 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Laufenberg will have already received $28,367 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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