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DeKalb Times

Friday, November 22, 2024

Former state school employee Delorme paid in $203K to teachers' pension fund, could collect $3.44M in retirement

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Former state school employee David Delorme, who retired in May 2018, saved $202,714 toward a pension over 33 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Delorme would collect as much as $3.44 million, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Delorme received $72,405 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Delorme will have already received $223,796 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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