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Macon Reporter

Saturday, May 18, 2024

Former state school employee Bowser paid in $161K to teachers' pension fund, could collect $4.11M in retirement

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Former state school employee Theresa Bowser, who retired in July 2016, saved $160,703 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, Bowser would collect as much as $4.11 million, according to a projection by Local Government Information Services (LGIS), which publishes Macon Reporter.

The projection assumes Bowser received $86,436 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Bowser will have already received $175,465 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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