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DeKalb Times

Tuesday, November 5, 2024

Former state school employee Zuba paid in $29K to teachers' pension fund, could collect $411K in retirement

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Former state school employee Mary Zuba, who retired in September 2017, saved $28,871 toward a pension over 7 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Zuba would collect as much as $411,211, according to a projection by Local Government Information Services (LGIS), which publishes DeKalb Times.

The projection assumes Zuba received $8,643 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Zuba will have already received $36,158 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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