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Quincy Reporter

Thursday, October 31, 2024

Former state school employee Pryor paid in $129K to teachers' pension fund, could collect $2.88M in retirement

Money 01

Former state school employee Peggy Pryor, who retired in May 2016, saved $129,027 toward a pension over 38 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Pryor would collect as much as $2.88 million, according to a projection by Local Government Information Services (LGIS), which publishes Quincy Reporter.

The projection assumes Pryor received $60,605 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Pryor will have already received $187,324 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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