Former state school employee Fabyan paid in $45K to teachers' pension fund, could collect $616K in retirement

By East Central Reporter Reports

Jun 1, 2016

Former state school employee Barbara Fabyan, who retired in May 2016, saved $44,595 toward a pension over 14 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Fabyan would collect as much as $616,337, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Fabyan received $12,954 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Fabyan will have already received $54,195 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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