Former state school employee Cunningham paid in $55K to teachers' pension fund, could collect $864K in retirement

By East Central Reporter Reports

Jun 1, 2016

Former state school employee Rebecca Cunningham, who retired in May 2016, saved $55,369 toward a pension over 18 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Cunningham would collect as much as $864,241, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Cunningham received $18,165 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Cunningham will have already received $56,146 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Oblong Community Unit School District 4

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