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Will County Gazette

Saturday, November 30, 2024

Former state school employee Freyer paid in $56K to teachers' pension fund, could collect $902K in retirement

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Former state school employee Nancy Freyer, who retired in August 2017, saved $55,997 toward a pension over 14 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Freyer would collect as much as $901,830, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Freyer received $18,955 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Freyer will have already received $58,589 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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