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DeKalb Times

Monday, December 23, 2024

Former state school employee Kalodimos paid in $20K to teachers' pension fund, could collect $579K in retirement

Money 01

Former state school employee Lori Kalodimos, who retired in November 2017, saved $20,334 toward a pension over 10 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Kalodimos would collect as much as $578,897, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Kalodimos received $12,168 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Kalodimos will have already received $24,701 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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