Will County Gazette

Will County Gazette

Monday, February 17, 2020

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


By Local Labs News Service | Jun 1, 2016

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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.

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Wilmington Community Unit School District 209U

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