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South West Illinois News

Sunday, April 20, 2025

Former state school employee Hopper paid in $2K to teachers' pension fund, could collect $39K in retirement

Money759

Former state school employee Mary Hopper, who retired in May 2017, saved $1,951 toward a pension over 1 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Hopper would collect as much as $38,513, according to a projection by Local Government Information Services (LGIS), which publishes SW Illinois News.

The projection assumes Hopper received $809 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Hopper will have already received $2,500 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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