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Saturday, November 23, 2024

Former state school employee Wojcicki paid in $43K to teachers' pension fund, could collect $606K in retirement

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Former state school employee Ronald Wojcicki, who retired in June 2016, saved $42,828 toward a pension over 7 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Wojcicki would collect as much as $606,460, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Wojcicki received $12,747 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Wojcicki will have already received $53,328 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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