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McHenry Times

Tuesday, April 23, 2024

Former state school employee Runck paid in $198K to teachers' pension fund, could collect $4.24M in retirement

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Former state school employee Eric Runck, who retired in June 2018, saved $197,571 toward a pension over 33 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Runck would collect as much as $4.24 million, according to a projection by Local Government Information Services (LGIS), which publishes McHenry Times.

The projection assumes Runck received $89,021 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Runck will have already received $275,156 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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