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DeKalb Times

Monday, November 25, 2024

Former state school employee Drennan paid in $87K to teachers' pension fund, could collect $1.69M in retirement

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Former state school employee Dianne Drennan, who retired in November 2018, saved $86,552 toward a pension over 18 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Drennan would collect as much as $1.69 million, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Drennan received $35,477 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Drennan will have already received $109,655 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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