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Chambana Sun

Thursday, July 17, 2025

Former state school employee Weaver paid in $181K to teachers' pension fund, could collect $4.24M in retirement

Money 07

Former state school employee Mary Weaver, who retired in August 2017, saved $181,117 toward a pension over 35 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Weaver would collect as much as $4.24 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Weaver received $89,034 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Weaver will have already received $275,195 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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