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Former state school employee Kirsch paid in $68K to teachers' pension fund, could collect $1.36M in retirement

Schools

By Local Labs News Service | Feb 1, 2016

Money 01

Former state school employee Denise Kirsch, who retired in January 2016, saved $68,317 toward a pension over 22 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Kirsch would collect as much as $1.36 million, according to a projection by Local Government Information Services (LGIS), which publishes SE Illinois News.

The projection assumes Kirsch received $28,683 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Kirsch will have already received $88,655 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Hamilton County Community Unit School District 10

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