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South Cook News

Sunday, May 11, 2025

Former state school employee Yalcin paid in $45K to teachers' pension fund, could collect $934K in retirement

Money 03

Former state school employee Can Yalcin, who retired in September 2016, saved $44,645 toward a pension over 14 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Yalcin would collect as much as $933,977, according to a projection by Local Government Information Services (LGIS), which publishes South Cook News.

The projection assumes Yalcin received $19,631 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Yalcin will have already received $60,678 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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