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Sangamon Sun

Monday, September 30, 2024

Former state school employee Zentgraf paid in $44K to teachers' pension fund, could collect $605K in retirement

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Former state school employee Caren Zentgraf, who retired in June 2017, saved $44,355 toward a pension over 9 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Zentgraf would collect as much as $604,856, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Zentgraf received $12,713 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Zentgraf will have already received $53,186 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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