Dupage Policy Journal

Dupage Policy Journal

Wednesday, November 13, 2019

Former state school employee Reneau paid in $44K to teachers' pension fund, could collect $2.36M in retirement

Schools

By Local Labs News Service | Nov 1, 2016

Money 08

Former state school employee Christine Reneau, who retired in October 2016, saved $44,247 toward a pension over 21 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Reneau would collect as much as $2.36 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Reneau received $49,607 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Reneau will have already received $49,607 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Elmhurst Community Unit School District 205

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