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Former state school employee Dalton paid in $3K to teachers' pension fund, could collect $187K in retirement

Schools

By Local Labs News Service | Nov 1, 2018

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Former state school employee Mary Dalton, who retired in October 2018, saved $3,366 toward a pension over 2 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Dalton would collect as much as $187,136, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Dalton received $3,933 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Dalton will have already received $3,933 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Illinois State Board of Education

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