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DeKalb Times

Sunday, November 24, 2024

Former state school employee Ecklund paid in $48K to teachers' pension fund, could collect $1.23M in retirement

Money 02

Former state school employee Jeanine Ecklund, who retired in April 2017, saved $47,649 toward a pension over 18 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Ecklund would collect as much as $1.23 million, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Ecklund received $25,949 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Ecklund will have already received $52,676 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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