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Lake County Gazette

Wednesday, April 24, 2024

Former state school employee Thurman paid in $1K to teachers' pension fund, could collect $36K in retirement

Money272

Former state school employee Debbie Thurman, who retired in September 2018, saved $1,490 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, Thurman would collect as much as $35,790, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Thurman received $752 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Thurman will have already received $1,527 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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