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DeKalb Times

Sunday, December 22, 2024

Former state school employee Dreska paid in $87K to teachers' pension fund, could collect $1.38M in retirement

Money 07

Former state school employee Cheryl Dreska, who retired in November 2017, saved $86,560 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, Dreska would collect as much as $1.38 million, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Dreska received $29,059 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Dreska will have already received $89,819 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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