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Grundy Reporter

Tuesday, December 24, 2024

Former state school employee Readle paid in $83K to teachers' pension fund, could collect $1.35M in retirement

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Former state school employee Sally Readle, who retired in May 2016, saved $82,854 toward a pension over 20 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Readle would collect as much as $1.35 million, according to a projection by Local Government Information Services (LGIS), which publishes Grundy Reporter.

The projection assumes Readle received $28,380 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Readle will have already received $87,719 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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