Dupage Policy Journal

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Monday, October 21, 2019

Former state school employee Loerop paid in $145K to teachers' pension fund, could collect $2.08M in retirement

Schools

By Local Labs News Service | Jun 1, 2017


Former state school employee Nanette Loerop, who retired in May 2017, saved $145,240 toward a pension over 26 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Loerop would collect as much as $2.08 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Loerop received $43,709 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Loerop will have already received $182,862 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Elmhurst Community Unit School District 205

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