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North Cook News

Friday, April 19, 2024

Former state school employee Botner paid in $8K to teachers' pension fund, could collect $182K in retirement

Money041

Former state school employee Caryn Botner, who retired in June 2017, saved $7,935 toward a pension over 2 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Botner would collect as much as $182,238, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Botner received $3,830 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Botner will have already received $11,838 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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