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West Central Reporter

Monday, May 20, 2024

Former state school employee Kraushaar paid in $6K to teachers' pension fund, could collect $121K in retirement

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Former state school employee Marjorie Kraushaar, who retired in April 2016, saved $6,327 toward a pension over 5 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Kraushaar would collect as much as $121,066, according to a projection by Local Government Information Services (LGIS), which publishes West Central Reporter.

The projection assumes Kraushaar received $2,544 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Kraushaar will have already received $7,863 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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