Former state school employee Nora paid in $80K to teachers' pension fund, could collect $1.44M in retirement

By Local Labs News Service

Mar 1, 2016

Former state school employee Susan Nora, who retired in February 2016, saved $79,736 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, Nora would collect as much as $1.44 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Nora received $30,245 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Nora will have already received $93,484 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

ORGANIZATIONS IN THIS STORY

Lincolnshire Prairie View School District 103

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.

Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.

Donate