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Macon Reporter

Wednesday, November 6, 2024

Former state school employee Sweitzer paid in $115K to teachers' pension fund, could collect $2.55M in retirement

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Former state school employee Sandra Sweitzer, who retired in May 2018, saved $115,099 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, Sweitzer would collect as much as $2.55 million, according to a projection by Local Government Information Services (LGIS), which publishes Macon Reporter.

The projection assumes Sweitzer received $53,577 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Sweitzer will have already received $165,601 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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