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Peoria Standard

Thursday, December 26, 2024

Former state school employee Camp paid in $138K to teachers' pension fund, could collect $3.27M in retirement

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Former state school employee Gregory Camp, who retired in May 2016, saved $137,560 toward a pension over 41 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Camp would collect as much as $3.27 million, according to a projection by Local Government Information Services (LGIS), which publishes Peoria Standard.

The projection assumes Camp received $68,831 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Camp will have already received $139,727 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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