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West Cook News

Monday, December 23, 2024

Former state school employee Kludac paid in $144K to teachers' pension fund, could collect $3.27M in retirement

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Former state school employee Jeanette Kludac, who retired in June 2016, saved $143,765 toward a pension over 32 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Kludac would collect as much as $3.27 million, according to a projection by Local Government Information Services (LGIS), which publishes West Cook News.

The projection assumes Kludac received $68,723 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Kludac will have already received $212,417 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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