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West Central Reporter

Thursday, October 31, 2024

Former state school employee Struck paid in $71K to teachers' pension fund, could collect $1.05M in retirement

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Former state school employee Theresa Struck, who retired in May 2016, saved $71,056 toward a pension over 20 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Struck would collect as much as $1.05 million, according to a projection by Local Government Information Services (LGIS), which publishes West Central Reporter.

The projection assumes Struck received $22,029 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Struck will have already received $92,162 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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