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Sangamon Sun

Monday, November 25, 2024

Former state school employee Coleman paid in $10K to teachers' pension fund, could collect $151K in retirement

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Former state school employee Rebecca Coleman, who retired in July 2016, saved $10,261 toward a pension over 3 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Coleman would collect as much as $150,690, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Coleman received $3,167 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Coleman will have already received $13,250 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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