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East Central Reporter

Sunday, January 5, 2025

Former state school employee Walkup paid in $140K to teachers' pension fund, could collect $2.84M in retirement

Money 07

Former state school employee Ricky Walkup, who retired in May 2018, saved $140,361 toward a pension over 35 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Walkup would collect as much as $2.84 million, according to a projection by Local Government Information Services (LGIS), which publishes East Central Reporter.

The projection assumes Walkup received $59,697 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Walkup will have already received $184,518 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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