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Former state school employee Tychsen paid in $124K to teachers' pension fund, could collect $2.14M in retirement

Schools

By Local Labs News Service | Jul 1, 2016

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Former state school employee Beverly Tychsen, who retired in June 2016, saved $124,386 toward a pension over 31 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Tychsen would collect as much as $2.14 million, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Tychsen received $44,945 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Tychsen will have already received $138,920 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Schaumburg Community Consolidated School District 54

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