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Sangamon Sun

Monday, November 25, 2024

Former state school employee Marti paid in $12K to teachers' pension fund, could collect $189K in retirement

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Former state school employee Jill Marti, who retired in March 2017, saved $11,751 toward a pension over 9 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Marti would collect as much as $188,855, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Marti received $3,969 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Marti will have already received $12,268 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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