Quantcast

McLean County Times

Saturday, April 26, 2025

Former state school employee Kuntz paid in $112K to teachers' pension fund, could collect $2.27M in retirement

Money 03

Former state school employee Lorene Kuntz, who retired in May 2016, saved $111,598 toward a pension over 29 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Kuntz would collect as much as $2.27 million, according to a projection by Local Government Information Services (LGIS), which publishes McLean County Times.

The projection assumes Kuntz received $47,800 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Kuntz will have already received $147,745 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

MORE NEWS