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Lake County Gazette

Tuesday, November 26, 2024

Former state school employee Sosa paid in $4K to teachers' pension fund, could collect $81K in retirement

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Former state school employee Teri Sosa, who retired in September 2016, saved $4,466 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, Sosa would collect as much as $80,845, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Sosa received $1,699 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Sosa will have already received $5,252 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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