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DeKalb Times

Wednesday, April 23, 2025

Former state school employee Connelly paid in $59K to teachers' pension fund, could collect $967K in retirement

Money 06

Former state school employee Alan Connelly, who retired in May 2017, saved $58,905 toward a pension over 16 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Connelly would collect as much as $967,375, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Connelly received $20,333 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Connelly will have already received $62,847 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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