Will County Gazette

Will County Gazette

Monday, October 14, 2019

Former state school employee Kane paid in $114K to teachers' pension fund, could collect $2.25M in retirement

Schools

By Local Labs News Service | Jun 1, 2016


Former state school employee Nancy Kane, who retired in May 2016, saved $113,886 toward a pension over 32 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Kane would collect as much as $2.25 million, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Kane received $47,303 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Kane will have already received $146,209 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 Wilmington Community Unit School District 209U ?

Sign-up Next time we write about Wilmington Community Unit School District 209U, we'll email you a link to the story. You may edit your settings or unsubscribe at any time.

Organizations in this Story

Wilmington Community Unit School District 209U

More News