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Peoria Standard

Thursday, April 18, 2024

Former state school employee Rosa paid in $129K to teachers' pension fund, could collect $2.46M in retirement

Money 04

Former state school employee Pamela Rosa, who retired in December 2018, saved $129,048 toward a pension over 27 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Rosa would collect as much as $2.46 million, according to a projection by Local Government Information Services (LGIS), which publishes Peoria Standard.

The projection assumes Rosa received $51,699 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Rosa will have already received $159,797 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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