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East Central Reporter

Sunday, November 24, 2024

Former state school employee Dunston paid in $109K to teachers' pension fund, could collect $1.73M in retirement

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Former state school employee Mary Dunston, who retired in July 2018, saved $109,107 toward a pension over 32 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Dunston would collect as much as $1.73 million, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Dunston received $36,360 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Dunston will have already received $112,386 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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