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Kendall County Times

Saturday, November 23, 2024

Former state school employee Strukel paid in $173K to teachers' pension fund, could collect $4.08M in retirement

Money 06

Former state school employee Janet Strukel, who retired in June 2016, saved $173,036 toward a pension over 41 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Strukel would collect as much as $4.08 million, according to a projection by Local Government Information Services (LGIS), which publishes Kendall County Times.

The projection assumes Strukel received $85,667 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Strukel will have already received $173,904 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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