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Sangamon Sun

Wednesday, November 13, 2024

Former state school employee Lister paid in $77K to teachers' pension fund, could collect $1.22M in retirement

Money 05

Former state school employee Martha Lister, who retired in May 2018, saved $76,710 toward a pension over 15 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Lister would collect as much as $1.22 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Lister received $25,548 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Lister will have already received $78,965 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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