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Sangamon Sun

Tuesday, April 23, 2024

Former state school employee Chaplinski paid in $79K to teachers' pension fund, could collect $1.5M in retirement

Money 06

Former state school employee Patricia Chaplinski, who retired in May 2016, saved $78,684 toward a pension over 21 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Chaplinski would collect as much as $1.5 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Chaplinski received $31,446 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Chaplinski will have already received $97,196 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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