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Thursday, December 5, 2019

Former state school employee Whisler paid in $4K to teachers' pension fund, could collect $1.13M in retirement

Schools

By Rock Island Today Reports | Nov 1, 2017

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Former state school employee Holly Whisler, who retired in October 2017, saved $4,023 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, Whisler would collect as much as $1.13 million, according to a projection by Local Government Information Services (LGIS), which publishes Rock Island Today.

The projection assumes Whisler received $23,661 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Whisler will have already received $23,661 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Illinois State Board of Education

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