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North Cook News

Wednesday, May 8, 2024

Former state school employee Kushner paid in $183K to teachers' pension fund, could collect $3.57M in retirement

Money272

Former state school employee Arlene Kushner, who retired in June 2016, saved $183,263 toward a pension over 29 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Kushner would collect as much as $3.57 million, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Kushner received $75,082 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Kushner will have already received $232,070 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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