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Sangamon Sun

Tuesday, November 5, 2024

Former state school employee Fowler paid in $61K to teachers' pension fund, could collect $885K in retirement

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Former state school employee Viola Fowler, who retired in April 2018, saved $60,899 toward a pension over 16 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Fowler would collect as much as $885,450, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Fowler received $18,611 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Fowler will have already received $77,860 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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