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Lake County Gazette

Wednesday, May 8, 2024

Former state school employee Fugere paid in $10K to teachers' pension fund, could collect $611K in retirement

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Former state school employee Paul Fugere, who retired in April 2017, saved $10,070 toward a pension over 7 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Fugere would collect as much as $611,404, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Fugere received $12,851 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Fugere will have already received $12,851 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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