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Peoria Standard

Tuesday, November 26, 2024

Former state school employee Sain paid in $9K to teachers' pension fund, could collect $103K in retirement

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Former state school employee Brady Sain, who retired in July 2018, saved $9,376 toward a pension over 5 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Sain would collect as much as $103,333, according to a projection by Local Government Information Services (LGIS), which publishes Peoria Standard.

The projection assumes Sain received $2,172 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 5 years of retirement, Sain will have already received $11,530 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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