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Peoria Standard

Friday, April 26, 2024

Former state school employee Troxell paid in $63K to teachers' pension fund, could collect $1.04M in retirement

Money 04

Former state school employee Susan Troxell, who retired in May 2018, saved $63,095 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, Troxell would collect as much as $1.04 million, according to a projection by Local Government Information Services (LGIS), which publishes Peoria Standard.

The projection assumes Troxell received $21,930 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Troxell will have already received $67,784 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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