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Quincy Reporter

Friday, November 22, 2024

Former state school employee Bruns paid in $22K to teachers' pension fund, could collect $583K in retirement

Money041

Former state school employee Susan Bruns, who retired in December 2017, saved $22,349 toward a pension over 10 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Bruns would collect as much as $582,562, according to a projection by Local Government Information Services (LGIS), which publishes Quincy Reporter.

The projection assumes Bruns received $12,245 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Bruns will have already received $24,857 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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