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Macon Reporter

Monday, December 23, 2024

Former state school employee Doolin paid in $83K to teachers' pension fund, could collect $1.7M in retirement

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Former state school employee Jan Doolin, who retired in May 2017, saved $83,339 toward a pension over 27 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Doolin would collect as much as $1.7 million, according to a projection by Local Government Information Services (LGIS), which publishes Macon Reporter.

The projection assumes Doolin received $35,828 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Doolin will have already received $110,741 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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