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Former state school employee Stevens paid in $117K to teachers' pension fund, could collect $2.33M in retirement

Schools

By Local Labs News Service | Jul 1, 2018

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Former state school employee Suzanne Stevens, who retired in June 2018, saved $116,855 toward a pension over 24 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Stevens would collect as much as $2.33 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Stevens received $48,967 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Stevens will have already received $151,352 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Park Ridge-Niles Community Consolidated School District 64

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