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DeKalb Times

Friday, March 14, 2025

Former state school employee Gilligan paid in $43K to teachers' pension fund, could collect $1.19M in retirement

Money759

Former state school employee Janice Gilligan, who retired in January 2016, saved $42,538 toward a pension over 19 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Gilligan would collect as much as $1.19 million, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Gilligan received $24,988 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Gilligan will have already received $50,726 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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