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Chambana Sun

Tuesday, April 16, 2024

Former state school employee Dowers paid in $122K to teachers' pension fund, could collect $2.47M in retirement

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Former state school employee Sandra Dowers, who retired in January 2016, saved $122,203 toward a pension over 28 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Dowers would collect as much as $2.47 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Dowers received $51,859 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Dowers will have already received $160,291 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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