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South Cook News

Wednesday, December 25, 2024

Former state school employee Kunka paid in $6K to teachers' pension fund, could collect $177K in retirement

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Former state school employee Mary Kunka, who retired in June 2016, saved $5,667 toward a pension over 2 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Kunka would collect as much as $176,780, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Kunka received $3,715 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Kunka will have already received $7,541 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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