Dupage Policy Journal

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Monday, April 6, 2020

Former state school employee Taylor paid in $120K to teachers' pension fund, could collect $2.37M in retirement

Schools

By Local Labs News Service | Sep 1, 2016

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Former state school employee Pandora Taylor, who retired in August 2016, saved $120,390 toward a pension over 25 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Taylor would collect as much as $2.37 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Taylor received $49,729 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Taylor will have already received $153,708 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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