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Sangamon Sun

Friday, May 3, 2024

Former state school employee Paulus paid in $162K to teachers' pension fund, could collect $3.45M in retirement

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Former state school employee Suzanne Paulus, who retired in June 2017, saved $161,990 toward a pension over 26 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Paulus would collect as much as $3.45 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Paulus received $72,433 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Paulus will have already received $223,883 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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