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Sangamon Sun

Monday, September 30, 2024

Former state school employee Levenson paid in $187K to teachers' pension fund, could collect $3.44M in retirement

Money 03

Former state school employee Dena Levenson, who retired in June 2017, saved $186,843 toward a pension over 30 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Levenson would collect as much as $3.44 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Levenson received $72,354 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Levenson will have already received $223,640 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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