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Sangamon Sun

Tuesday, April 29, 2025

Former state school employee Parmentier paid in $176K to teachers' pension fund, could collect $3.59M in retirement

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Former state school employee Joseph Parmentier, who retired in May 2016, saved $176,134 toward a pension over 35 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Parmentier would collect as much as $3.59 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Parmentier received $75,518 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Parmentier will have already received $233,420 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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