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Rockford Sun

Thursday, November 28, 2024

Former state school employee Geyler paid in $8K to teachers' pension fund, could collect $129K in retirement

Money 05

Former state school employee Linda Geyler, who retired in April 2018, saved $8,406 toward a pension over 7 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Geyler would collect as much as $128,533, according to a projection by Local Government Information Services (LGIS), which publishes Rockford Sun.

The projection assumes Geyler received $2,701 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Geyler will have already received $11,299 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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