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Macon Reporter

Sunday, June 29, 2025

Former state school employee Murray paid in $34K to teachers' pension fund, could collect $563K in retirement

Money 06

Former state school employee Timothy Murray, who retired in May 2016, saved $34,339 toward a pension over 12 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Murray would collect as much as $563,374, according to a projection by Local Government Information Services (LGIS), which publishes Macon Reporter.

The projection assumes Murray received $11,841 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Murray will have already received $36,599 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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