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North Cook News

Wednesday, April 24, 2024

Former state school employee Fishman paid in $97K to teachers' pension fund, could collect $1.76M in retirement

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Former state school employee Janice Fishman, who retired in June 2018, saved $97,307 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, Fishman would collect as much as $1.76 million, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Fishman received $37,032 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Fishman will have already received $114,462 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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