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Will County Gazette

Tuesday, April 30, 2024

Former state school employee Torres paid in $8K to teachers' pension fund, could collect $91K in retirement

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Former state school employee Sylvia Torres, who retired in February 2016, saved $7,555 toward a pension over 5 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Torres would collect as much as $90,665, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Torres received $1,905 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Torres will have already received $7,970 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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