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Peoria Standard

Friday, March 14, 2025

Former state school employee Bachman paid in $166K to teachers' pension fund, could collect $3.22M in retirement

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Former state school employee Ronald Bachman, who retired in June 2017, saved $165,791 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, Bachman would collect as much as $3.22 million, according to a projection by Local Government Information Services (LGIS), which publishes Peoria Standard.

The projection assumes Bachman received $67,659 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Bachman will have already received $209,128 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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