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Dupage Policy Journal

Wednesday, April 17, 2024

Former state school employee Quain paid in $183K to teachers' pension fund, could collect $4.09M in retirement

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Former state school employee Theresa Quain, who retired in June 2017, saved $182,970 toward a pension over 28 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Quain would collect as much as $4.09 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Quain received $86,071 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Quain will have already received $266,037 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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