Former state school employee Funkey paid in $147K to teachers' pension fund, could collect $3.27M in retirement

By Local Labs News Service

Jun 1, 2016

Former state school employee Sandra Funkey, who retired in May 2016, saved $146,770 toward a pension over 31 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Funkey would collect as much as $3.27 million, according to a projection by Local Government Information Services (LGIS), which publishes Kane County Reporter.

The projection assumes Funkey received $68,814 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Funkey will have already received $212,696 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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St. Charles Community Unit School District 303

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