Former state school employee Ludwig paid in $14K to teachers' pension fund, could collect $360K in retirement

By Local Labs News Service

Oct 1, 2016

Former state school employee Marilou Ludwig, who retired in September 2016, saved $14,301 toward a pension over 6 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Ludwig would collect as much as $360,343, according to a projection by Local Government Information Services (LGIS), which publishes Metro East Sun.

The projection assumes Ludwig received $7,574 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Ludwig will have already received $15,375 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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