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Chambana Sun

Monday, May 20, 2024

Former state school employee Enos paid in $56K to teachers' pension fund, could collect $1.61M in retirement

Money 02

Former state school employee Douglas Enos, who retired in June 2016, saved $56,390 toward a pension over 22 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Enos would collect as much as $1.61 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Enos received $33,768 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Enos will have already received $68,549 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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