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North Egypt News

Monday, November 25, 2024

Former state school employee Kirsch paid in $107K to teachers' pension fund, could collect $1.89M in retirement

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Former state school employee Larna Kirsch, who retired in October 2018, saved $106,542 toward a pension over 21 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 $1.89 million, according to a projection by Local Government Information Services (LGIS), which publishes North Egypt News.

The projection assumes Kirsch received $39,698 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Kirsch will have already received $122,703 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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