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Peoria Standard

Wednesday, December 25, 2024

Former state school employee Lloyd paid in $66K to teachers' pension fund, could collect $991K in retirement

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Former state school employee Jana Lloyd, who retired in May 2016, saved $66,309 toward a pension over 21 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Lloyd would collect as much as $991,296, according to a projection by Local Government Information Services (LGIS), which publishes Peoria Standard.

The projection assumes Lloyd received $20,836 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Lloyd will have already received $87,170 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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