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Peoria Standard

Sunday, September 29, 2024

Former state school employee Little paid in $110K to teachers' pension fund, could collect $2.52M in retirement

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Former state school employee Roberta Little, who retired in May 2018, saved $109,537 toward a pension over 35 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Little would collect as much as $2.52 million, according to a projection by Local Government Information Services (LGIS), which publishes Peoria Standard.

The projection assumes Little received $53,058 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Little will have already received $163,998 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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