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Dupage Policy Journal

Monday, November 25, 2024

Former state school employee Thorley paid in $54K to teachers' pension fund, could collect $878K in retirement

Money 06

Former state school employee Laurel Thorley, who retired in May 2017, saved $53,689 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, Thorley would collect as much as $877,794, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Thorley received $18,450 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Thorley will have already received $57,028 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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