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Dupage Policy Journal

Friday, April 26, 2024

Former state school employee Lundine paid in $190K to teachers' pension fund, could collect $4.51M in retirement

Money 07

Former state school employee Kristine Lundine, who retired in May 2016, saved $189,603 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, Lundine would collect as much as $4.51 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Lundine received $94,817 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Lundine will have already received $192,479 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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