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Sangamon Sun

Thursday, April 18, 2024

Former state school employee Kent paid in $119K to teachers' pension fund, could collect $2.57M in retirement

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Former state school employee Tamara Kent, who retired in May 2016, saved $119,322 toward a pension over 38 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Kent would collect as much as $2.57 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Kent received $53,977 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Kent will have already received $166,837 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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