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Dupage Policy Journal

Thursday, May 23, 2024

Former state school employee Wilkening paid in $191K to teachers' pension fund, could collect $4.26M in retirement

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Former state school employee Lisa Wilkening, who retired in June 2016, saved $191,455 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, Wilkening would collect as much as $4.26 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Wilkening received $89,571 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Wilkening will have already received $276,855 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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