Former state school employee Mueller paid in $73K to teachers' pension fund, could collect $1.25M in retirement

By Local Labs News Service

Jun 1, 2018

Former state school employee Gregory Mueller, who retired in May 2018, saved $72,609 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, Mueller would collect as much as $1.25 million, according to a projection by Local Government Information Services (LGIS), which publishes Kendall County Times.

The projection assumes Mueller received $26,273 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Mueller will have already received $81,207 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Yorkville Community Unit School District 115

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