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Sangamon Sun

Monday, November 25, 2024

Former state school employee Oshita paid in $185K to teachers' pension fund, could collect $3.95M in retirement

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Former state school employee Linda Oshita, who retired in July 2017, saved $184,558 toward a pension over 37 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Oshita would collect as much as $3.95 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Oshita received $82,945 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Oshita will have already received $256,374 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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