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Lake County Gazette

Monday, November 25, 2024

Former state school employee Ciszon paid in $181K to teachers' pension fund, could collect $4.13M in retirement

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Former state school employee Cheryl Ciszon, who retired in May 2016, saved $180,772 toward a pension over 38 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Ciszon would collect as much as $4.13 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Ciszon received $86,788 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Ciszon will have already received $268,254 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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