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Dupage Policy Journal

Tuesday, April 30, 2024

Former state school employee Alrich paid in $105K to teachers' pension fund, could collect $1.85M in retirement

Money759

Former state school employee Cristine Alrich, who retired in June 2016, saved $104,743 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, Alrich would collect as much as $1.85 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Alrich received $38,895 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Alrich will have already received $120,221 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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