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DeKalb Times

Friday, March 14, 2025

Former state school employee Morrissey paid in $13K to teachers' pension fund, could collect $228K in retirement

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Former state school employee Elsie Morrissey, who retired in March 2016, saved $13,261 toward a pension over 3 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Morrissey would collect as much as $227,768, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Morrissey received $4,787 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Morrissey will have already received $14,797 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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