Sangamon Sun

Sangamon Sun

Tuesday, October 15, 2019

Former state school employee Kramer paid in $91K to teachers' pension fund, could collect $1.89M in retirement

Schools

By Local Labs News Service | Jul 1, 2016


Former state school employee Pamela Kramer, who retired in June 2016, saved $91,192 toward a pension over 24 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Kramer would collect as much as $1.89 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Kramer received $39,817 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Kramer will have already received $123,071 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Freeburg Community Consolidated School District 70

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