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Rockford Sun

Wednesday, December 25, 2024

Former state school employee Lorbinenko paid in $142K to teachers' pension fund, could collect $2.69M in retirement

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Former state school employee Ludmila Lorbinenko, who retired in May 2017, saved $142,349 toward a pension over 34 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Lorbinenko would collect as much as $2.69 million, according to a projection by Local Government Information Services (LGIS), which publishes Rockford Sun.

The projection assumes Lorbinenko received $56,585 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Lorbinenko will have already received $174,899 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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