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Macon Reporter

Sunday, November 24, 2024

Former state school employee Ranzy Allen paid in $140K to teachers' pension fund, could collect $2.9M in retirement

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Former state school employee Janice Ranzy Allen, who retired in June 2017, saved $139,955 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, Ranzy Allen would collect as much as $2.9 million, according to a projection by Local Government Information Services (LGIS), which publishes Macon Reporter.

The projection assumes Ranzy Allen received $61,026 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Ranzy Allen will have already received $188,626 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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