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Grundy Reporter

Friday, November 15, 2019

Former state school employee Joerger paid in $92K to teachers' pension fund, could collect $1.65M in retirement

Schools

By Local Labs News Service | Jun 1, 2018

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Former state school employee Kathleen Joerger, who retired in May 2018, saved $92,207 toward a pension over 24 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Joerger would collect as much as $1.65 million, according to a projection by Local Government Information Services (LGIS), which publishes Grundy Reporter.

The projection assumes Joerger received $34,649 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Joerger will have already received $107,096 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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