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Sangamon Sun

Friday, November 22, 2024

Former state school employee Isermann paid in $11K to teachers' pension fund, could collect $187K in retirement

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Former state school employee Susan Isermann, who retired in August 2016, saved $10,736 toward a pension over 2 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Isermann would collect as much as $186,731, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Isermann received $3,924 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Isermann will have already received $12,129 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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