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North Cook News

Saturday, April 20, 2024

Former state school employee Vana paid in $8K to teachers' pension fund, could collect $166K in retirement

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Former state school employee Debra Vana, who retired in August 2016, saved $7,687 toward a pension over 6 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Vana would collect as much as $165,767, according to a projection by Local Government Information Services (LGIS), which publishes North Cook News.

The projection assumes Vana received $3,484 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Vana will have already received $10,770 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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