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Sunday, February 23, 2020

Moline USD 40 Carius paid in $164K to teachers pension fund, could collect $4.4 million in retirement


By Rock Island Today Reports | Oct 16, 2018

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Retired Moline USD 40 employee Siri Carius saved $163,986 toward her pension over 37 years working for public schools, Illinois Teachers' Retirement Fund (TRS) records show.

Over 40 years of retirement, Carius would collect as much as $4.356 million, according to a projection by Local Government Information Services (LGIS), which publishes Rock Island Today.

Carius, 55, who currently lives in Coal Valley, earned $96,480 in her final year at Moline USD 40.

The projection assumes Carius will receive 56.8 percent of that total - $54,813 - in her first year of retirement, then 3 percent annual increases thereafter, compounded.

After three years of retirement, Carius will have already received $169,422 in retirement benefits, or more than the sum total of her contributions to the state teachers' pension fund.

According to the Illinois State Board of Education (ISBE), 23.7 percent of Moline USD 40 students met or exceeded the standards for the "PARCC" exams. ISBE reported that 41.5 percent of district's graduates were deemed "college ready" last year.

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Moline Coal Valley Community Unit School District 40

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