Former state school employee Kaufman paid in $76K to teachers' pension fund, could collect $1.18M in retirement

By Local Labs News Service

Jul 1, 2017

Former state school employee Susan Kaufman, who retired in June 2017, saved $76,046 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, Kaufman would collect as much as $1.18 million, according to a projection by Local Government Information Services (LGIS), which publishes Southern Illinois News.

The projection assumes Kaufman received $24,704 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Kaufman will have already received $76,357 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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