Former state school employee Norman paid in $172K to teachers' pension fund, could collect $4M in retirement

By Local Labs News Service

Jul 1, 2017

Former state school employee Katherine Norman, who retired in June 2017, saved $171,865 toward a pension over 37 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Norman would collect as much as $4 million, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Norman received $84,005 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Norman will have already received $259,651 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Lake Forest School District 67

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