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South Central Reporter

Wednesday, November 6, 2024

Former state school employee Feig paid in $76K to teachers' pension fund, could collect $1.26M in retirement

Money759

Former state school employee April Feig, who retired in May 2018, saved $76,125 toward a pension over 19 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Feig would collect as much as $1.26 million, according to a projection by Local Government Information Services (LGIS), which publishes South Central Reporter.

The projection assumes Feig received $26,522 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Feig will have already received $81,978 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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