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Grundy Reporter

Wednesday, December 25, 2024

Former state school employee Berta paid in $65 to teachers' pension fund, could collect $45K in retirement

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Former state school employee Charles Berta, who retired in February 2016, saved $65 toward a pension over 1 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Berta would collect as much as $44,844, according to a projection by Local Government Information Services (LGIS), which publishes Grundy Reporter.

The projection assumes Berta received $942 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Berta will have already received $942 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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