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DeKalb Times

Friday, April 26, 2024

Former state school employee Bernhardy paid in $18K to teachers' pension fund, could collect $292K in retirement

Money041

Former state school employee Rebecca Bernhardy, who retired in May 2017, saved $17,640 toward a pension over 12 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Bernhardy would collect as much as $291,932, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Bernhardy received $6,136 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Bernhardy will have already received $18,966 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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