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Sangamon Sun

Sunday, May 5, 2024

Former state school employee Heimlich paid in $111K to teachers' pension fund, could collect $1.82M in retirement

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Former state school employee Kathryn Heimlich, who retired in May 2017, saved $110,772 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, Heimlich would collect as much as $1.82 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Heimlich received $38,170 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Heimlich will have already received $117,979 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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