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West Cook News

Friday, November 22, 2024

Former state school employee Ludkowski paid in $110K to teachers' pension fund, could collect $1.69M in retirement

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Former state school employee Theresa Ludkowski, who retired in May 2016, saved $109,677 toward a pension over 17 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Ludkowski would collect as much as $1.69 million, according to a projection by Local Government Information Services (LGIS), which publishes West Cook News.

The projection assumes Ludkowski received $35,472 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Ludkowski will have already received $148,401 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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