Former state school employee Logan paid in $79K to teachers' pension fund, could collect $1.19M in retirement

By Local Labs News Service

Jul 1, 2017

Former state school employee Diane Logan, who retired in June 2017, saved $79,437 toward a pension over 18 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Logan would collect as much as $1.19 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Logan received $24,936 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Logan will have already received $104,324 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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