Former state school employee Seitz Dennis paid in $120K to teachers' pension fund, could collect $2.98M in retirement

By Local Labs News Service

Jan 1, 2017

Former state school employee Kathryn Seitz Dennis, who retired in December 2016, saved $119,830 toward a pension over 36 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Seitz Dennis would collect as much as $2.98 million, according to a projection by Local Government Information Services (LGIS), which publishes Illinois Valley Times.

The projection assumes Seitz Dennis received $62,552 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Seitz Dennis will have already received $126,981 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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