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Metro East Sun

Wednesday, December 4, 2024

Former state school employee Bozeman paid in $156K to teachers' pension fund, could collect $2.8M in retirement

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Former state school employee Carlon Bozeman, who retired in May 2018, saved $155,841 toward a pension over 32 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Bozeman would collect as much as $2.8 million, according to a projection by Local Government Information Services (LGIS), which publishes Metro East Sun.

The projection assumes Bozeman received $58,778 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Bozeman will have already received $181,676 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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