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Dupage Policy Journal

Tuesday, April 16, 2024

Former state school employee Reynolds paid in $153K to teachers' pension fund, could collect $2.73M in retirement

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Former state school employee Linda Reynolds, who retired in May 2016, saved $153,483 toward a pension over 27 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Reynolds would collect as much as $2.73 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Reynolds received $57,286 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Reynolds will have already received $177,066 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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