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Sangamon Sun

Monday, November 25, 2024

Former state school employee Wojtkowski paid in $129K to teachers' pension fund, could collect $2.82M in retirement

Money 06

Former state school employee Virginia Wojtkowski, who retired in May 2018, saved $129,329 toward a pension over 27 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Wojtkowski would collect as much as $2.82 million, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Wojtkowski received $59,329 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Wojtkowski will have already received $183,380 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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