Grundy Reporter

Grundy Reporter

Friday, November 15, 2019

Former state school employee Andersen paid in $95K to teachers' pension fund, could collect $1.83M in retirement

Schools

By Local Labs News Service | Jun 1, 2018

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Former state school employee Debra Andersen, who retired in May 2018, saved $95,415 toward a pension over 26 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Andersen would collect as much as $1.83 million, according to a projection by Local Government Information Services (LGIS), which publishes Grundy Reporter.

The projection assumes Andersen received $38,409 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Andersen will have already received $118,718 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Saratoga Community Consolidated School District 60C

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