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Grundy Reporter

Friday, April 19, 2024

Former state school employee Mulopulos paid in $23K to teachers' pension fund, could collect $863K in retirement

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Former state school employee Diane Mulopulos, who retired in November 2016, saved $23,146 toward a pension over 11 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Mulopulos would collect as much as $862,688, according to a projection by Local Government Information Services (LGIS), which publishes Grundy Reporter.

The projection assumes Mulopulos received $18,133 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Mulopulos will have already received $36,810 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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