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McHenry Times

Monday, May 20, 2024

Former state school employee Sijersen paid in $53K to teachers' pension fund, could collect $893K in retirement

Money759

Former state school employee Douglas Sijersen, who retired in May 2017, saved $53,241 toward a pension over 14 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Sijersen would collect as much as $892,581, according to a projection by Local Government Information Services (LGIS), which publishes McHenry Times.

The projection assumes Sijersen received $18,761 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Sijersen will have already received $57,989 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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