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Rockford Sun

Saturday, November 23, 2024

Former state school employee Wilken paid in $13K to teachers' pension fund, could collect $134K in retirement

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Former state school employee Peggy Wilken, who retired in January 2017, saved $13,013 toward a pension over 2 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Wilken would collect as much as $134,208, according to a projection by Local Government Information Services (LGIS), which publishes Rockford Sun.

The projection assumes Wilken received $2,820 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 5 years of retirement, Wilken will have already received $14,973 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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