Dupage Policy Journal

Dupage Policy Journal

Thursday, October 17, 2019

Former state school employee Nelson paid in $20K to teachers' pension fund, could collect $288K in retirement


By Local Labs News Service | Oct 1, 2016

Former state school employee Joellen Nelson, who retired in September 2016, saved $20,495 toward a pension over 10 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Nelson would collect as much as $288,295, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Nelson received $6,059 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 4 years of retirement, Nelson will have already received $25,349 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Glenbard Township High School 89 (merged)

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