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Thursday, February 20, 2020

Former state school employee Dotson paid in $18K to teachers' pension fund, could collect $835K in retirement

Schools

By Local Labs News Service | Jun 1, 2018

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Former state school employee Terri Dotson, who retired in May 2018, saved $18,094 toward a pension over 10 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Dotson would collect as much as $835,045, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Dotson received $17,552 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Dotson will have already received $35,631 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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