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DeKalb Times

Friday, November 22, 2024

Former state school employee Thuestad paid in $109K to teachers' pension fund, could collect $2.17M in retirement

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Former state school employee Betty Thuestad, who retired in May 2017, saved $109,262 toward a pension over 31 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Thuestad would collect as much as $2.17 million, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Thuestad received $45,715 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Thuestad will have already received $141,300 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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