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DeKalb Times

Friday, November 22, 2024

Former state school employee Bell paid in $62K to teachers' pension fund, could collect $1.62M in retirement

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Former state school employee Sandra Bell, who retired in May 2018, saved $61,554 toward a pension over 20 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Bell would collect as much as $1.62 million, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Bell received $33,965 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Bell will have already received $68,949 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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