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Galesburg Reporter

Sunday, November 24, 2024

Former state school employee Dehority paid in $80K to teachers' pension fund, could collect $1.44M in retirement

Money759

Former state school employee Susan Dehority, who retired in May 2018, saved $79,864 toward a pension over 27 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Dehority would collect as much as $1.44 million, according to a projection by Local Government Information Services (LGIS), which publishes Galesburg Reporter.

The projection assumes Dehority received $30,168 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Dehority will have already received $93,246 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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