Former state school employee Kaegebein paid in $29K to teachers' pension fund, could collect $856K in retirement

By Local Labs News Service

Oct 1, 2018

Former state school employee Jacqueline Kaegebein, who retired in September 2018, saved $29,016 toward a pension over 9 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Kaegebein would collect as much as $856,414, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Kaegebein received $18,001 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Kaegebein will have already received $36,542 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Minooka Community Consolidated School District 201

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