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DeKalb Times

Sunday, November 24, 2024

Former state school employee Leyrer paid in $45K to teachers' pension fund, could collect $642K in retirement

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Former state school employee Karen Leyrer, who retired in July 2017, saved $44,729 toward a pension over 11 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Leyrer would collect as much as $641,914, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Leyrer received $13,492 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Leyrer will have already received $56,446 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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