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Sangamon Sun

Tuesday, April 16, 2024

Former state school employee Uphoff paid in $72K to teachers' pension fund, could collect $1.33M in retirement

Money272

Former state school employee Diana Uphoff, who retired in May 2017, saved $72,363 toward a pension over 19 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Uphoff would collect as much as $1.33 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Uphoff received $27,880 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Uphoff will have already received $86,173 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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