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Former state school employee Sellers paid in $23K to teachers' pension fund, could collect $1.03M in retirement

Schools

By Local Labs News Service | Sep 1, 2016

Money 07

Former state school employee Julia Sellers, who retired in August 2016, saved $22,603 toward a pension over 13 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Sellers would collect as much as $1.03 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Sellers received $21,687 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Sellers will have already received $44,025 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Naperville Community Unit School District 203

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