Former state school employee Cupp paid in $168K to teachers' pension fund, could collect $2.53M in retirement

By Local Labs News Service

Jun 1, 2016

Former state school employee Jannifer Cupp, who retired in May 2016, saved $168,368 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, Cupp would collect as much as $2.53 million, according to a projection by Local Government Information Services (LGIS), which publishes NW Illinois News.

The projection assumes Cupp received $53,157 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Cupp will have already received $222,391 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Ashton-Franklin Center CUSD #275

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