Dupage Policy Journal

Dupage Policy Journal

Monday, December 16, 2019

Former state school employee Quinn paid in $261K to teachers' pension fund, could collect $4.96M in retirement

Schools

By Local Labs News Service | Jun 1, 2018

Money272

Former state school employee Karen Quinn, who retired in May 2018, saved $260,862 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, Quinn would collect as much as $4.96 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Quinn received $104,196 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Quinn will have already received $322,060 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Naperville Community Unit School District 203

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