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North Cook News

Wednesday, April 24, 2024

Former state school employee Cunard paid in $185K to teachers' pension fund, could collect $3.69M in retirement

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Former state school employee Carol Cunard, who retired in June 2018, saved $184,865 toward a pension over 31 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Cunard would collect as much as $3.69 million, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Cunard received $77,595 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Cunard will have already received $239,839 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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