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Peoria Standard

Thursday, December 26, 2024

Former state school employee Aldridge paid in $107K to teachers' pension fund, could collect $2.28M in retirement

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Former state school employee Diana Aldridge, who retired in May 2016, saved $107,344 toward a pension over 33 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Aldridge would collect as much as $2.28 million, according to a projection by Local Government Information Services (LGIS), which publishes Peoria Standard.

The projection assumes Aldridge received $47,944 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Aldridge will have already received $148,189 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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