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Chambana Sun

Sunday, November 24, 2024

Former state school employee Dunworth paid in $16K to teachers' pension fund, could collect $217K in retirement

Money 05

Former state school employee Christine Dunworth, who retired in June 2017, saved $15,990 toward a pension over 2 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Dunworth would collect as much as $217,246, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Dunworth received $4,566 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Dunworth will have already received $19,102 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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