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McHenry Times

Friday, April 26, 2024

Former state school employee Kuziel paid in $71K to teachers' pension fund, could collect $1.35M in retirement

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Former state school employee Jeanne Kuziel, who retired in May 2017, saved $71,287 toward a pension over 23 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Kuziel would collect as much as $1.35 million, according to a projection by Local Government Information Services (LGIS), which publishes McHenry Times.

The projection assumes Kuziel received $28,450 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Kuziel will have already received $87,937 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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