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DeKalb Times

Thursday, April 25, 2024

Former state school employee Weir paid in $143K to teachers' pension fund, could collect $2.62M in retirement

Money041

Former state school employee Pamela Weir, who retired in May 2017, saved $142,533 toward a pension over 25 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Weir would collect as much as $2.62 million, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Weir received $55,108 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Weir will have already received $170,333 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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