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Carbondale Reporter

Friday, November 22, 2024

Former state school employee Kidd paid in $1K to teachers' pension fund, could collect $26K in retirement

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Former state school employee Julie Kidd, who retired in October 2018, saved $1,360 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, Kidd would collect as much as $25,576, according to a projection by Local Government Information Services (LGIS), which publishes Carbondale Reporter.

The projection assumes Kidd received $537 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Kidd will have already received $1,660 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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