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Peoria Standard

Saturday, April 20, 2024

Former state school employee Drissi paid in $3K to teachers' pension fund, could collect $53K in retirement

Money 02

Former state school employee Susan Drissi, who retired in December 2018, saved $3,327 toward a pension over 1 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Drissi would collect as much as $52,825, according to a projection by Local Government Information Services (LGIS), which publishes Peoria Standard.

The projection assumes Drissi received $1,110 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Drissi will have already received $3,430 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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