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Sangamon Sun

Saturday, November 23, 2024

Former state school employee Rosenberger paid in $50K to teachers' pension fund, could collect $769K in retirement

Money 05

Former state school employee Patricia Rosenberger, who retired in September 2016, saved $49,981 toward a pension over 14 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Rosenberger would collect as much as $768,672, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Rosenberger received $16,156 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Rosenberger will have already received $67,591 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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