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Dupage Policy Journal

Saturday, April 20, 2024

Former state school employee Truedson paid in $2K to teachers' pension fund, could collect $29K in retirement

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Former state school employee Patricia Truedson, who retired in November 2018, saved $1,510 toward a pension over 1 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Truedson would collect as much as $28,996, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Truedson received $609 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Truedson will have already received $1,882 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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