Dupage Policy Journal

Dupage Policy Journal

Saturday, January 18, 2020

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


By Local Labs News Service | Jun 1, 2017

Shutterstock 225154648

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.

Want to get notified whenever we write about Elmhurst Community Unit School District 205 ?

Sign-up Next time we write about Elmhurst Community Unit School District 205, we'll email you a link to the story. You may edit your settings or unsubscribe at any time.

Organizations in this Story

Elmhurst Community Unit School District 205

More News