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Sangamon Sun

Monday, September 30, 2024

Former state school employee Petricca paid in $178K to teachers' pension fund, could collect $3.53M in retirement

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Former state school employee Anna Petricca, who retired in June 2017, saved $178,069 toward a pension over 29 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Petricca would collect as much as $3.53 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Petricca received $74,274 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Petricca will have already received $229,573 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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