Quantcast

South West Illinois News

Friday, November 22, 2024

Former state school employee Dunn paid in $88K to teachers' pension fund, could collect $7.94M in retirement

Shutterstock 197358977

Former state school employee Randy Dunn, who retired in July 2018, saved $87,580 toward a pension over 16 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Dunn would collect as much as $7.94 million, according to a projection by Local Government Information Services (LGIS), which publishes SW Illinois News.

The projection assumes Dunn received $166,885 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Dunn will have already received $166,885 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.
Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.
Donate

MORE NEWS