Former state school employee Dunigan paid in $73K to teachers' pension fund, could collect $1.75M in retirement

By Local Labs News Service

May 1, 2016

Former state school employee Colleen Dunigan, who retired in April 2016, saved $72,764 toward a pension over 20 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Dunigan would collect as much as $1.75 million, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Dunigan received $36,869 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Dunigan will have already received $74,844 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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