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Peoria Standard

Tuesday, November 26, 2024

Former state school employee Kryszak paid in $5K to teachers' pension fund, could collect $115K in retirement

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Former state school employee Theckla Kryszak, who retired in May 2018, saved $5,271 toward a pension over 4 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Kryszak would collect as much as $115,408, according to a projection by Local Government Information Services (LGIS), which publishes Peoria Standard.

The projection assumes Kryszak received $2,425 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Kryszak will have already received $7,496 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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