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South Cook News

Monday, May 20, 2024

Former state school employee Dreger paid in $186K to teachers' pension fund, could collect $5.22M in retirement

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Former state school employee Kathleen Dreger, who retired in July 2017, saved $186,200 toward a pension over 38 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Dreger would collect as much as $5.22 million, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Dreger received $109,719 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Dreger will have already received $222,730 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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