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Sangamon Sun

Sunday, May 18, 2025

Former state school employee Alexander paid in $29K to teachers' pension fund, could collect $647K in retirement

Money 08

Former state school employee Penni Alexander, who retired in August 2017, saved $29,181 toward a pension over 13 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Alexander would collect as much as $646,698, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Alexander received $13,593 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Alexander will have already received $42,015 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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