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Dupage Policy Journal

Thursday, April 25, 2024

Former state school employee Lubiniecki paid in $232K to teachers' pension fund, could collect $4.92M in retirement

Money759

Former state school employee Christine Lubiniecki, who retired in May 2018, saved $232,223 toward a pension over 32 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Lubiniecki would collect as much as $4.92 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Lubiniecki received $103,353 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Lubiniecki will have already received $319,455 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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