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West Cook News

Tuesday, December 24, 2024

Former state school employee Maslan paid in $136K to teachers' pension fund, could collect $3.02M in retirement

Money272

Former state school employee Andrea Maslan, who retired in June 2016, saved $135,963 toward a pension over 25 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Maslan would collect as much as $3.02 million, according to a projection by Local Government Information Services (LGIS), which publishes West Cook News.

The projection assumes Maslan received $63,470 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Maslan will have already received $196,179 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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