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South Cook News

Monday, April 14, 2025

Former state school employee Sanders paid in $82K to teachers' pension fund, could collect $1.43M in retirement

Money 04

Former state school employee Jimmie Sanders, who retired in June 2017, saved $82,349 toward a pension over 17 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Sanders would collect as much as $1.43 million, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Sanders received $30,092 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Sanders will have already received $93,012 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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