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Dupage Policy Journal

Friday, April 19, 2024

Former state school employee Green paid in $200K to teachers' pension fund, could collect $4.02M in retirement

Money 02

Former state school employee Donald Green, who retired in June 2018, saved $199,857 toward a pension over 30 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Green would collect as much as $4.02 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Green received $84,447 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Green will have already received $261,016 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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