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South Cook News

Saturday, September 21, 2024

Former state school employee Roza paid in $22K to teachers' pension fund, could collect $1.03M in retirement

Money041

Former state school employee Robert Roza, who retired in January 2017, saved $21,677 toward a pension over 11 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Roza would collect as much as $1.03 million, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Roza received $21,671 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Roza will have already received $43,992 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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