Former state school employee Laine paid in $153K to teachers' pension fund, could collect $3.85M in retirement

By Local Labs News Service

Jul 1, 2017

Former state school employee Nancy Laine, who retired in June 2017, saved $152,781 toward a pension over 35 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Laine would collect as much as $3.85 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Laine received $80,959 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Laine will have already received $164,347 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Waukegan Community Unit School District 60

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