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Lake County Gazette

Monday, November 25, 2024

Former state school employee Trute paid in $159K to teachers' pension fund, could collect $4.21M in retirement

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Former state school employee Michele Trute, who retired in May 2016, saved $159,400 toward a pension over 35 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Trute would collect as much as $4.21 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Trute received $88,395 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Trute will have already received $179,442 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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