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Rockford Sun

Saturday, November 23, 2024

Former state school employee Linden paid in $34K to teachers' pension fund, could collect $748K in retirement

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Former state school employee Patti Linden, who retired in January 2017, saved $34,101 toward a pension over 9 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Linden would collect as much as $747,622, according to a projection by Local Government Information Services (LGIS), which publishes Rockford Sun.

The projection assumes Linden received $15,714 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Linden will have already received $48,570 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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