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Carbondale Reporter

Wednesday, November 27, 2024

Former state school employee Taylor paid in $18K to teachers' pension fund, could collect $324K in retirement

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Former state school employee Mayra Taylor, who retired in August 2018, saved $17,819 toward a pension over 5 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 $323,931, according to a projection by Local Government Information Services (LGIS), which publishes Carbondale Reporter.

The projection assumes Taylor received $6,808 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Taylor will have already received $21,042 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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