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Dupage Policy Journal

Thursday, April 18, 2024

Former state school employee Vana paid in $232K to teachers' pension fund, could collect $5.21M in retirement

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Former state school employee Donald Vana, who retired in May 2018, saved $232,206 toward a pension over 33 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Vana would collect as much as $5.21 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Vana received $109,518 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Vana will have already received $338,510 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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