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East Central Reporter

Thursday, December 26, 2024

Former state school employee Mankin paid in $83K to teachers' pension fund, could collect $1.34M in retirement

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Former state school employee Connie Mankin, who retired in May 2016, saved $82,814 toward a pension over 22 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Mankin would collect as much as $1.34 million, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Mankin received $28,077 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Mankin will have already received $86,783 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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