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Will County Gazette

Saturday, November 23, 2024

Former state school employee Christensen paid in $149K to teachers' pension fund, could collect $3.79M in retirement

Money041

Former state school employee Daniel Christensen, who retired in June 2016, saved $148,887 toward a pension over 35 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Christensen would collect as much as $3.79 million, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Christensen received $79,692 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Christensen will have already received $161,775 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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