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Metro East Sun

Sunday, November 24, 2024

Former state school employee Rodriguez paid in $70K to teachers' pension fund, could collect $1.05M in retirement

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Former state school employee Kaydeane Rodriguez, who retired in January 2018, saved $69,929 toward a pension over 15 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Rodriguez would collect as much as $1.05 million, according to a projection by Local Government Information Services (LGIS), which publishes Metro East Sun.

The projection assumes Rodriguez received $21,978 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Rodriguez will have already received $91,946 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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