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Former state school employee Sgro paid in $169K to teachers' pension fund, could collect $4.1M in retirement

Schools

By Local Labs News Service | Jan 1, 2018

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Former state school employee Marc Sgro, who retired in December 2017, saved $168,973 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, Sgro would collect as much as $4.1 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Sgro received $86,240 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Sgro will have already received $175,067 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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