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East Central Reporter

Tuesday, April 23, 2024

Former state school employee Reynolds paid in $19K to teachers' pension fund, could collect $644K in retirement

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Former state school employee Rhonda Reynolds, who retired in September 2016, saved $19,310 toward a pension over 7 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Reynolds would collect as much as $644,426, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Reynolds received $13,545 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Reynolds will have already received $27,496 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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