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Chambana Sun

Sunday, November 24, 2024

Former state school employee Cetin paid in $45K to teachers' pension fund, could collect $949K in retirement

Money272

Former state school employee Patricia Cetin, who retired in June 2017, saved $44,979 toward a pension over 15 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Cetin would collect as much as $948,752, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Cetin received $19,942 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Cetin will have already received $61,638 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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