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West Cook News

Friday, April 19, 2024

Former state school employee Kuzniewski paid in $341K to teachers' pension fund, could collect $9.25M in retirement

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Former state school employee Michael Kuzniewski, who retired in August 2017, saved $340,994 toward a pension over 35 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Kuzniewski would collect as much as $9.25 million, according to a projection by Local Government Information Services (LGIS), which publishes West Cook News.

The projection assumes Kuzniewski received $194,419 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Kuzniewski will have already received $394,671 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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