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Dupage Policy Journal

Thursday, April 18, 2024

Former state school employee Orourke paid in $60K to teachers' pension fund, could collect $891K in retirement

Money759

Former state school employee Vicki Orourke, who retired in June 2016, saved $59,862 toward a pension over 12 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Orourke would collect as much as $891,199, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Orourke received $18,732 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Orourke will have already received $78,368 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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