Will County Gazette

Will County Gazette

Monday, October 14, 2019

Former state school employee Kreml Mulka paid in $79K to teachers' pension fund, could collect $1.93M in retirement

Schools

By Local Labs News Service | Jun 1, 2016


Former state school employee Kathleen Kreml Mulka, who retired in May 2016, saved $78,872 toward a pension over 27 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Kreml Mulka would collect as much as $1.93 million, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Kreml Mulka received $40,494 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Kreml Mulka will have already received $82,203 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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