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Former state school employee Planert paid in $39K to teachers' pension fund, could collect $1.06M in retirement

Schools

By Local Labs News Service | Feb 1, 2016

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Former state school employee Cynthia Planert, who retired in January 2016, saved $38,603 toward a pension over 11 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Planert would collect as much as $1.06 million, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Planert received $22,224 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Planert will have already received $45,115 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Glenview Community Consolidated School District 34

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