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Macon Reporter

Wednesday, November 6, 2024

Former state school employee Dunham paid in $141K to teachers' pension fund, could collect $3.12M in retirement

Money 06

Former state school employee Teresa Dunham, who retired in May 2018, saved $141,476 toward a pension over 36 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Dunham would collect as much as $3.12 million, according to a projection by Local Government Information Services (LGIS), which publishes Macon Reporter.

The projection assumes Dunham received $65,617 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Dunham will have already received $202,817 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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