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Macon Reporter

Friday, November 22, 2024

Former state school employee Wagner Turner paid in $41K to teachers' pension fund, could collect $836K in retirement

Money 01

Former state school employee Carolyn Wagner Turner, who retired in October 2018, saved $40,563 toward a pension over 9 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Wagner Turner would collect as much as $836,478, according to a projection by Local Government Information Services (LGIS), which publishes Macon Reporter.

The projection assumes Wagner Turner received $17,582 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Wagner Turner will have already received $54,343 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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