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Chicago City Wire

Wednesday, May 8, 2024

Former state school employee Tisza paid in $3K to teachers' pension fund, could collect $280K in retirement

Money 04

Former state school employee Andrea Tisza, who retired in June 2018, saved $3,463 toward a pension over 3 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Tisza would collect as much as $279,988, according to a projection by Local Government Information Services (LGIS), which publishes Chicago City Wire.

The projection assumes Tisza received $5,885 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Tisza will have already received $5,885 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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