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Chambana Sun

Wednesday, April 30, 2025

Former state school employee Wadleigh paid in $48K to teachers' pension fund, could collect $770K in retirement

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Former state school employee Steven Wadleigh, who retired in May 2016, saved $48,209 toward a pension over 14 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Wadleigh would collect as much as $770,333, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Wadleigh received $16,191 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Wadleigh will have already received $50,045 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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